Bitcoin Price Drops Below $95,000: Experts Analyze Causes and Potential Trajectory

Bitcoin price recently dropped below $95,000 for the first time in over six months, potentially erasing its year-long gains. The decline was driven by global market risk aversion, with investors withdrawing approximately $900 million from Bitcoin funds. 24-hour data reveals a surge in downside protection options demand, particularly put options at $85,000 and $90,000, as traders anticipate further price drops.