Analysts: Bitcoin failed to hold the $90,000 mark, and a more significant decline is expected in the coming weeks.

Odaily Planet Daily reports that Bitcoin failed to hold the $90,000 mark this week, with risk aversion seemingly shifting towards pushing up gold prices and suppressing Bitcoin. Alex Kuptsikevich, Chief Market Analyst at FxPro, stated that the cryptocurrency market decline occurred against the backdrop of a significant rise in gold and other precious metal prices and a weakening US dollar, further highlighting the shift in market risk appetite. The global bond sell-off also confirms this, and a more pronounced decline in the cryptocurrency market can be expected in the coming weeks. Simultaneously, risk aversion will also spread to stocks and currencies in developing countries. (CoinDesk)