[Analysis: BTC stagnates around $90,000, limited short-term hedging potential, possibly due to Fed's balance sheet reduction draining market liquidity] According to Cointelegraph, Bitcoin has failed to hold the $92,000 level over the past month and is currently stagnating around $90,000. Some traders attribute this to market manipulation, while others blame the price drop on growing concerns about the artificial intelligence industry. Another major factor limiting Bitcoin's price growth is the Federal Reserve's reduction of its balance sheet for most of 2025, which has drained liquidity from financial markets. Despite clear signs that the Fed is shifting toward a more accommodative monetary policy, traders remain uncertain whether the Fed can lower interest rates below 3.5% by 2026. As investor risk aversion intensifies, Bitcoin is unlikely to serve as an effective hedge in the short term.