[FalconX Executive: Bitcoin's Next Key Price Level is $88,500]
After Federal Reserve Chairman Powell announced a 25 basis point rate cut, Asian stock markets rose, but Bitcoin fell during the Asian trading session. Sean McNulty, FalconX's Head of Derivatives Trading for Asia-Pacific, stated that Bitcoin's next key price level is $88,500, with $85,000 being a critical threshold. On Wednesday, U.S. Bitcoin ETF net inflows reached $224 million, but Bitcoin's price failed to stay above $94,000, confirming that structural selling pressure outweighed demand.