Bitcoin (BTC) experienced a dip to $93,000 but could potentially drop further to $86,000 due to factors such as waning demand, decreasing blockchain activity, and a lack of liquidity inflows. Demand for bitcoin has decreased, with data showing a slump in demand growth and a disappearance of inflows to spot BTC exchange-traded funds. Additionally, stablecoin growth has lost momentum, indicating a lack of fresh capital entering the market. Blockchain activity on the Bitcoin network has also decreased, signaling declining investor engagement. BTC has struggled to maintain its price above $90,000 and has been impacted by controversial memecoin launches. However, there is potential for BTC to find a bottom in the near future, although it may break below the $90,000 range-low in the process.



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