Title: Gold is soaring, but Bitcoin is going downhill? Bulls are on the edge of a cliff, and may fall below $92,000!

On May 6, Cointelegraph reported that according to the Crypto King’s official account, Wall Street opened today, and Bitcoin opened low and fell to a new low this month. The price was particularly weak against the backdrop of a strong rise in gold. Currently, BTC is hovering around the key support level of $93,500 at the beginning of the year. If it falls, it may retest $92,000 or even lower.

QCP Capital said that the crypto market is currently "clueless", with limited volatility and unclear market direction. At the same time, gold has risen by more than 4.4% this week, boosted by a weaker dollar and geopolitical tensions. Some analysts believe that BTC has failed to replicate the rise in gold and is gradually decoupling from the risk-averse logic and returning to the attributes of a risky asset.

Technically, the MACD daily line has entered a bearish channel, while the weekly line still shows potential positives. Trader Titan pointed out that Bitcoin has been fluctuating around $95,000, and the short-term upward momentum has slowed down significantly. We need to be wary of a drop to the $91,600 or even $88,000 range.