#Bitcoin falls below $90,000#
Hot Topic Overview
Overview
Bitcoin recently fell below $90,000, sparking market concerns. Standard Chartered analyst Geoff Kendrick warned that if it breaks below the $90,000 support level, Bitcoin faces a 10% pullback risk and could even fall to $80,000. He believes that macroeconomic sell-off pressure and potential spot ETF unwind will further exacerbate Bitcoin's decline.
Ace Hot Topic Analysis
Analysis
Recently, Bitcoin price fell below $90,000, raising market concerns. Standard Chartered analyst Geoff Kendrick warned that if Bitcoin breaks below the $90,000 support level, it could trigger spot ETF liquidation, leading to further price declines. He believes that Bitcoin could retrace to $80,000, driven by macroeconomic selling pressure. This warning indicates that market confidence in Bitcoin prices is waning, and investors need to closely monitor market developments and be prepared to manage risks.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin drops below $90,000 support level, which could trigger spot ETF liquidations
Macroeconomic sell-off pressure could cause Bitcoin to further retrace to $80,000
Bitcoin dropping below the $90,000 support level will face a 10% pullback risk
Standard Chartered Bank is cautious on the Bitcoin market