Bitcoin Falls Below $94,000 for First Time Since May Amid 'Extreme Fear' Sentiment

Market Sentiment - Bitcoin has reached its lowest level since May, trading around $95,087, down 1% over the past 24 hours, with extreme fear prevailing in the crypto market as indicated by the Crypto Fear & Greed Index at 10 [1] - Other major cryptocurrencies also experienced declines, with ether down 3.23% to $3,113, XRP down 2.1% to $2.21, BNB down 1.6% to $926.21, and solana down 3.6% to $137.79 [2] Technical Analysis - Analyst Ali Martinez noted that Bitcoin has broken out of a channel, suggesting a potential slide towards $83,500 [3] - Analyst Benjamin Cowen highlighted that Bitcoin registered a death cross, which historically has marked local lows, and emphasized the need for Bitcoin to bounce back within the next week to maintain the current cycle [4] Market Dynamics - U.S. Treasury Secretary Scott Bessent indicated that President Trump's proposal for $2,000 tariff-funded "dividend" payments would require congressional approval, which previously had a positive impact on market sentiment [5] - Market intelligence platform Santiment reported a spike in Bitcoin discussion rates to a four-month high during the recent price drop, suggesting elevated retail fear, which could indicate a potential market bottom [6] Company Developments - Strategy (MSTR) Executive Chairman Michael Saylor announced that the company will reveal its latest Bitcoin acquisition, potentially adding positive sentiment to the market [7]