I. Market Overview According to the latest K-line data, as of now, the BTC price is at $88,452, marking a new low in nearly 14 days. Observing the daily K-line trend over the past 14 days, BTC has dropped from the opening price of $92,261.5, having attempted to break through $93,836 during this period but subsequently continued to decline without a strong rebound. The decline has been particularly significant in the last 3 days, with a continuous drop from the closing price of $91,334, reaching a low of $88,452, intensifying the pullback. The average daily trading volume has overall retreated from a high level, especially yesterday's volume of 2,010.66 coins, which reflects a phase of low liquidity and a strong market wait-and-see sentiment. Combining the 48-hour hourly K-line, BTC shows a step-like decline, with multiple attempts to test the $90,000 support level failing. In the latest hour, BTC reached a maximum of only $90,417 and a minimum that broke below $88,470.5, with a trading volume of 2,009.95 coins in that hour, indicating significant selling pressure. Currently, short-term sentiment is weakening, with drastic fluctuations on the market and unstable support. In conjunction with news information, mainstream media generally express opinions that the market lacks upward momentum, stating that "with the comprehensive emergence of overlapping patterns, the market situation is becoming increasingly worse... which means the upward trend is fading," reflecting a pessimistic sentiment in the current market. Additionally, risks such as liquidity shortages related to ETH and USDT further exacerbate the cautious atmosphere in the market. There have been no new developments at the policy level that have had a direct impact on the market. II. Technical Analysis 1. Support and Resistance From the daily K-line data on the 14th, the BTC high was at $93,836, and after oscillating around $90,000 multiple times in the last ten days, it has clearly retreated. The latest support zone is at $88,470.5 (based on the lowest hourly K), and if it breaks down, it may further seek support at $86,116 (near support in the daily K-line). In terms of resistance, the short-term significant pressure is at $90,954 (the recent daily K high, crucial mentioned in news), and it needs to break above the $91,950-$92,000 range upwards. If it does not recover effectively, the rebound space will be limited. 2. Trends and Patterns Within the 14 days, BTC has shown an overall descending channel, with a brief rebound followed by new lows. In the last 48 hours, hourly K-lines frequently closed in the negative, indicating a bearish dominance. From the perspective of trading volume, the decline after high trading in the previous period means that there is extremely insufficient proactive buying, and bullish confidence has been frustrated. The overall structure leans towards weak consolidation, and no significant reduction in volume to halt the decline has been observed. III. News and Policy Interpretation Market news is highly focused on BTC's performance at the critical price level of $90,954, with several media outlets pointing out the market's fragility and "bullish sentiment fading," clearly reflecting that the key area of the BTC long-short struggle has turned into bearish dominance. For instance, "BTC attempts to reverse bearish sentiment... but the broader trend still leans downward," and it has been repeatedly mentioned that the $91,000-$93,000 range is the upper limit of this round of rebound. Positive topics such as ETFs have not effectively pushed prices to stabilize. There is no new content in policy news that has formed a positive driving force. Overall, both the news and the market confirm a weak pattern, with technical and emotional factors mutually reinforcing. IV. Analyst Opinions Currently, there are no analyst opinion data available, and no subjective market interpretation can be supplemented. Due to the lack of specific analyst opinions, this section is labeled "data not available." V. Future Trend Forecast and Operation Suggestions Based on the comprehensive assessment of the 14-day and 48-hour K-line, BTC's descending channel has yet to be broken. If it continues to fall below the hourly K low of $88,470.5, then pay attention to the support line of $86,116. There are currently no obvious signals for halting the decline, and if the rebound encounters resistance in the $90,954-$92,000 range, it is advisable to be cautious of the risk of false breakouts. In the short term, it is suggested that investors observe or control their positions to stop losses and wait for confirmation of bottom signals before entering. For aggressive investors, if the price pulls back to the $90,000 position and fails to break through significantly, consider gradually reducing positions. If the volume subsequently breaks below $88,000, then the bearish risk will further intensify, and do not add positions against the trend. VI. Risk Warning K-line data shows that BTC is currently experiencing sharp fluctuations, with the maximum drop in the last three trading days exceeding $2,582, and trading volume rapidly shrinking, with selling pressure accumulating. The market lacks stable support, and key points are frequently breaking down. When important price levels like $88,470.5 and $86,116 approach, one must remain highly vigilant. Investors should control leverage and avoid blindly bottom-fishing during accelerated declines to prevent triggering continuous stop losses due to a sudden drop in a single day. Currently, the market shows no obvious signs of stabilization, so it is necessary to pay attention to price and trading volume changes at any time to avoid greater losses from chasing highs and killing lows. In summary, the recent situation for BTC is bearish, and it is necessary to pay attention to downside risks and confirm rebound signals while rationally managing positions and risks.