Bitcoin is showing a bearish trend, surrendering the psychological support level of 90 million won.

As of 11:23 p.m. on the 31st, Bitcoin was trading at 89,974,000 won on the Upbit KRW market, falling below the 90 million won mark. With recent volatility expanding, continued selling pressure has pushed the price below key levels.

The breach of the 90 million won level has drawn market attention to the future direction of the cryptocurrency market. Whether Bitcoin can reclaim the 90 million won level in the short term has emerged as the biggest focus.

Investors point to the following three factors as key variables that will determine Bitcoin's future price direction:

• U.S. monetary policy outlook
• Changes in global risk asset investment sentiment
• Geopolitical risks

The prevailing forecast is that whether Bitcoin will face further correction or quickly rebound ultimately depends on the future global financial market conditions and the recovery of investor sentiment.

[※ This article is not investment advice. Virtual assets are highly volatile assets. Losses from investments may be borne by the investor, so careful judgment is required.]