The cryptocurrency market has experienced a setback in its recovery momentum as the Bitcoin price dropped from $99,800 to $93,000. This bearish reversal was caused by exhausted buyers, a long squeeze, and concerns over the Federal Open Market Committee (FOMC) minutes. Despite this, the BTC price has seen a slight gain, trading at $93,400 with a market cap of $1.84 trillion and a 24-hour trading volume of $123.60 billion. The market has witnessed a liquidation of $679.2 million, but investors view this pullback as a post-rally correction. If the bearish momentum continues, the Bitcoin price could drop 4.2% to find support at $90,000. However, it's anticipated that the price will consolidate around $90,000 by the end of November before rising again. The current recovery trend started in September and has been supported by events like the Fed rate cut and the upcoming US presidential election. It is not uncommon for BTC to experience occasional pullbacks before further upward movement, and historically, these pullbacks have been around 9-11%. Therefore, it is expected that the price will rebound from the $90,000 level, which aligns with the 20-day Exponential Moving Average (EMA).



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