BlockBeats News, November 19th, Bitcoin fell below $90,000, causing concerns in the market about a bear market. However, Standard Chartered Bank analyst Geoffrey Kendrick pointed out that this rapid decline is more like the third deep correction within the cycle. Multiple indicators have reached extreme levels, with Strategy’s PB falling to 1.0, indicating that the price may be approaching the bottom. He expects Bitcoin to rebound before the end of the year and believes that this may be the last time in this cycle that Bitcoin falls below $100,000. Although option data shows a risk of Bitcoin testing the $80,000 mid-range, many market participants believe that leverage clearing creates space for the next round of growth. In a low-liquidity environment, even small-scale funds can quickly drive price reversals.
BiyaPay analysts stated that the current market has entered the “deep correction + leverage clearing” stage. If Bitcoin can hold steady near $90,000, the probability of a year-end rebound still exists. Users can use BiyaPay to participate in digital assets, Hong Kong and U.S. stocks, and futures trading using USDT, seizing potential market opportunities.
