Analyst: At this stage, Bitcoin is still in the "adjustment phase" and may test the downward support level of $87,500

ChainCatcher news, according to Bloomberg, the Bitcoin and broader cryptocurrency market has had an unstable start this year, influenced by speculation that the Federal Reserve's further rate cut window is about to close. Charlie Morris, Chief Investment Officer of ByteTree Asset Management, stated that it is pointless to try to predict a market turnaround before the market understands the true implications of the Trump administration. While it is expected that the Trump administration will support cryptocurrencies, it cannot escape the fact that major financial markets are expensive and the tech industry remains vulnerable to corrections.

Fairlead Strategies LLC technical analyst Katie Stockton pointed out that Bitcoin is still in an "adjustment phase" at this stage, and market trends indicate that Bitcoin may test the "downward" support level of $87,500.