Analysis: There is a strong technical bearish signal for Bitcoin, and the next low point may be around $88000

According to a report by JinShi, Piotr Matys, Senior Forex Analyst at Intouch Capital Markets, stated that Bitcoin may have now formed a so-called head and shoulder pattern, indicating that the trend is shifting from bullish to bearish. Matys stated that a drop below $91600, which is considered the main support level, indicates a strong technical bearish signal for Bitcoin. Alex Kuptsikevich, Chief Market Analyst at Fxpro, added that if bearish sentiment prevails, the next low for Bitcoin could be around $88000, or it could quickly retrace from there to around $74000. Last year, the debut of US ETFs directly linked to Bitcoin, as well as President elect Trump's outspoken support for the digital asset industry, pushed Bitcoin to a historic high. However, this optimism has weakened in 2025, and some analysts say traders are waiting for certainty after Trump's inauguration on January 20th.