Causes of the price decline: The drop in Bitcoin’s price is primarily due to sell-offs by short-term investors, creating widespread anxiety across the market. Analysts believe that the 90,000 USD level could serve as support for a potential recovery.

Current market sentiment: Currently, the market reflects the impact of recent events, with over 4 billion USD worth of Bitcoin liquidated. Many experts argue that this has created substantial pressure but also presented recovery opportunities.

Bitcoin’s recovery potential: Experts like Alex Thorn from Galaxy Digital suggest that history may repeat itself, with Bitcoin having a strong recovery potential if it maintains positive trading patterns ahead. This could help the asset surpass its record price.