Victoria Bazir
⬤ Bitcoin dropped below the $90,000 mark after failing to hold higher ground, signaling a shift in short-term momentum. BTC faced persistent selling throughout the session, eventually settling in the high $89,000s as bears took control.
⬤ The decline saw Bitcoin slide from above $91,000, moving through a series of lower highs throughout the day. Brief attempts to stabilize around $90,400 and $90,000 quickly failed as selling pressure continued, pushing price down to $89,826 by the close.
⬤ Rather than a sharp crash, Bitcoin's move lower played out gradually over the session, pointing to controlled profit-taking rather than panic selling. The 1.6% daily loss unfolded through steady downward swings without major volatility spikes, suggesting traders were cashing out gains from the recent rally in an orderly fashion.
⬤ The move below $90,000 matters for the broader crypto market since Bitcoin typically leads the pack. If BTC stays under this level, it could dampen near-term sentiment and make other major cryptocurrencies more vulnerable to further drops. However, if price stabilizes around current levels, it might just be a healthy correction rather than the start of something bigger.
Victoria Bazir
