According to current market dynamics, there is a possibility that Bitcoin may drop below $97,500 in the short term. As of February 20, 2025, the BTC price is fluctuating in the range of $96,000 to $97,000, with technical indicators showing bearish signals: inter-exchange flow pulse (IFP) turned negative^7^10, and the price has fallen below the key trendline support at $97,500^10. If it cannot reclaim the $97,000 resistance, it may further decline to $95,500 or even $92,200^7^10. On a macro level, the expectations of interest rate hikes by the Federal Reserve and tightening dollar liquidity are increasing downward pressure^5^6. However, it should be noted that there is strong on-chain support around $94,000 to $95,000^2^3, which may lead to a quick rebound after a short-term drop. It is recommended to pay attention to key support levels and policy trends.