Van Straten predicts Bitcoin’s bullish trend may falter if the price slips below $91K.

Bitcoin (BTC) experienced a notable decline, falling just under $98,000, representing a nearly 10% pullback from its all-time high, prompting concerns about the continuation of its current bull run.

This decline is partly attributed to the emerging threat from China’s DeepSeek AI, which has raised alarms in the tech industry due to its hyper-efficiency and lower costs, challenging U.S. tech dominance. Since President Donald Trump’s election win, Bitcoin has surged from $66,000 to a new peak of $109,000, though the rally has seen two separate 15% corrections, along with several smaller retracements. This recent dip appears to be within the range of normal market fluctuations based on historical trends.

A key support level to watch during bull markets is the short-term holder cost basis, which represents the average price of Bitcoin held by investors who have moved their coins within the last 155 days. Currently, this level sits at approximately $91,000. A drop below this level could signal a potential slowdown in the bull market, with the risk of further downward pressure on prices.

Bearish sentiment is also beginning to take root, as Bitcoin’s funding rates have turned negative. Prominent figures like Arthur Hayes, co-founder of Bitmex, have predicted that Bitcoin could experience a correction to the $70,000-$75,000 range before possibly rallying towards $250,000. Additionally, CoinDesk’s Omkar Godbole has suggested that Bitcoin could fall to $75,000 if a “double top” reversal pattern emerges.

This downturn isn’t isolated to Bitcoin, as U.S. stock markets are also feeling the pressure, with Nasdaq futures declining by up to 4%, signaling a broader risk-off sentiment in financial markets.