Bitcoin slipped below $90,000, renewing concerns about a bear market stance. Yet Standard Chartered analyst Geoffrey Kendrick frames the move as a pronounced deep correction within the current cycle rather than a breakdown, noting several indicators in oversold territory, with Strategy’s PB at 1.0 suggesting a potential near-term floor and a possible year-end rebound.
Options data indicate a risk of testing the $80,000 mid-range, but many traders argue that leverage clearing could clear the way for the next leg higher in a liquidity-constrained backdrop, where even modest inflows can spark swift reversals.
BiyaPay analysts describe the current phase as a “deep correction + leverage clearing.” If BTC can hold near $90,000, a year-end rebound remains plausible, and its platform enables trading across digital assets, Hong Kong and U.S. equities, and futures using USDT.
Source: https://en.coinotag.com/breakingnews/bitcoin-near-90k-deep-correction-and-leverage-clearing-signal-potential-year-end-rebound
