[Analyst Warns Bitcoin May Drop to $76,000]
On January 8, according to Cointelegraph, Bitcoin's price retreated to near its opening price at the beginning of the year after approaching $95,000, and it may fall below $90,000 during the day. Material Indicators co-founder Keith Alan stated that Bitcoin's initial breakout attempt has been rejected and pointed out that technical support is concentrated in the $87,500 to $89,000 range. He believes that the macro death cross on the weekly chart later this month will turn the rebound into a 'sell-the-rally event.' Trader Roman reiterated the short-term target of $76,000 and noted that the current price near $89,000 still has room for downside, with high time frames remaining bearish.