Bitcoin investors should be prepared for more volatility as the cryptocurrency experiences a sharp sell-off. Currently down nearly 21% from its all-time high, Bitcoin has dropped below $90,000 for the first time since November. Wolfe Research analyst Reed Harvey suggests that Bitcoin could potentially fall back to the mid-to-low $70,000 range. Harvey points out that with the strong support level of $91,000 now out of the picture, a lack of a V-shaped oversold reaction would send a bearish message. The recent decline in Bitcoin's value lacks a clear catalyst but is likely influenced by concerns about a slowing economy and the broader sell-off in stocks. Despite the pullback, Bitcoin is still up 23% since the election but has lost 8% so far in 2025.



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