#Bitcoin Risk of Dropping Below $90,000#
Hot Topic Overview
Overview
Bitcoin's price is facing the risk of breaking below the $90,000 support level in the near term, according to Standard Chartered analyst Geoff Kendrick, who warned that a break below this level could trigger spot ETF unwinding and further push the price down to $80,000. The risk stems from macro sell-off pressures, with investors' growing concerns about the future economic outlook exacerbating market volatility.
Ace Hot Topic Analysis
Analysis
Standard Chartered analyst Geoff Kendrick warned that a break below the $90,000 support level for Bitcoin could trigger spot ETF liquidations, leading to further price declines. He believes that Bitcoin could pull back to the $80,000 lows, further fueled by macroeconomic sell-off pressure. This means investors could face a 10% loss if Bitcoin falls below $90,000. This warning suggests that while Bitcoin has been strong recently, its price remains at risk of a downside, and investors should be cautious.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin breaks below $90,000 support level, potentially triggering spot ETF liquidations, Macroeconomic sell-off pressure could further intensify Bitcoin pullback.
Bitcoin breaks below $90,000 support level could lead to a 10% pullback
Bitcoin could fall to a low of $80,000