Bitcoin briefly fell below $90,000 this week as expectations for a Federal Reserve rate cut cooled and ETF outflows continued, according to QCP analysis. The decline in liquidity exacerbated the downward movement, putting pressure on market sentiment. Federal Reserve Chair Powell reiterated that a December rate cut is not a certainty. Market participants are closely watching this week's labor data and leading indicators to determine if Bitcoin's pullback is a short-term position adjustment or a broader shift in risk appetite.