Bitcoin price has dropped over 6.7% after reaching all-time highs above $99,800 on November 22. This decline raises questions about whether this peak marks the local top for BTC. Analysts predict the price may retest sub-$90,000 levels, potentially reaching lows around $85,000 before continuing its upward trend towards $100,000. Bitcoin analyst AlphaBTC noted support around $93,000 and hinted at a potential dip towards $80,000 if the $85,000 support fails. Other analysts, including Crypto Rover and Michael van de Poppe, echoed concerns regarding the critical support lines for Bitcoin. The 20-day exponential moving average sits close to significant support, indicating a potential local low before a future upswing. With over 268,370 BTC previously bought in the $89,000 range, there is a solid foundation if the price drops further into this territory. Overall, while the possibility of a drop exists, many analysts remain bullish about Bitcoin achieving $100,000 soon.

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