According to online reports, analyst Van Straten pointed out that Bitcoin has now retreated nearly 10% from a historical high of $109,000 to around $98,000. Since Trump was elected president of the United States, Bitcoin has risen from $66,000 to a new high, experiencing two 15% pullbacks during this period. Chain data shows that the cost benchmark for short-term holders is at $91,000, and a breakthrough in this key support level may put pressure on the current bull market. Market bearish sentiment has warmed up and Bitcoin funding rates have turned negative. BitMEX co-founder Arthur Hayes predicts that Bitcoin may pull back to the $70,000 - 75,000 range before hitting $250,000.