Bitcoin's weak trend continues, analysts: This week may see fluctuations and consolidation, key support level at $85,200.

According to Bloomberg, Bitcoin started the week lower after experiencing sustained dumping, which is expected to result in its worst monthly performance since 2022. After a rebound over the weekend, Bitcoin briefly fell 2.3% on Monday morning, dropping just below $86,000 before narrowing its losses. As of 10:24 AM Singapore time, Bitcoin was trading at $87,986.

Although the price of Bitcoin is far above last Friday's low of $80,553, traders do not think it's worth celebrating. Despite the surge in acceptance of cryptocurrencies by institutional investors and strong support from U.S. President Trump for the cryptocurrency industry along with a series of policy initiatives, the entire cryptocurrency market remains in a noticeable slump.

Caroline Mauron, co-founder of Orbit Markets, stated: “Today's morning trading appears slightly sluggish, but the volatility is quite small, which is within the normal range.” She added that Bitcoin may fluctuate between $80,000 and $90,000 this week as the market looks for clues regarding the upcoming Federal Reserve interest rate decision.

On Monday, U.S. stock index futures rose after a week of volatility, with the market becoming more optimistic about the possibility of interest rate cuts. If the situation does not improve, November will become the worst month for Bitcoin since 2022. In 2022, a series of corporate bankruptcies swept through the cryptocurrency market, ultimately leading to the collapse of Sam Bankman-Fried's FTX exchange.

BTC Markets analyst Rachael Lucas ( stated that after last week's fall, traders are closely watching the key support level of $85,200. “Currently, the impact of technical and macroeconomic headwinds outweighs the fundamentals, but history shows that unless new shocks occur, these liquidation waves often lead to a rebound,” she added.