Analyst: Bitcoin's support level is around $85,000, and it will maintain a range-bound fluctuation in the second half of the month

According to Decrypt, Bitcoin briefly fell below $92,000, with over $865 million liquidated across the network in 24 hours. Lai Yuen, an investment analyst at Fisher8 Capital, stated that the decline in the crypto market is mainly due to the resurgence of the US-EU trade war and concerns over Trump's new round of tariff proposals.

Bitget's chief analyst Ryan Lee said, "The recent pullback in Bitcoin is more driven by changes in global risk sentiment rather than fundamental factors within the crypto market. The rise in macro uncertainty, coupled with profit-taking after a significant increase, has led investors to adopt a more cautious strategy across various markets, including stocks, commodities, and digital assets." Looking ahead, Lee expects Bitcoin to maintain a range-bound fluctuation in the second half of January, with support potentially forming around $85,000.