#Bitcoin could fall below $90,000.#
Hot Topic Overview
Overview
Bitcoin is currently facing the risk of breaking below the $90,000 support level, with Standard Chartered Bank warning that a break below this level could lead to a 10% pullback and potentially further declines to $80,000. Geoff Kendrick, an analyst at the bank, noted that a break below the support level could trigger spot ETF liquidations, while macro-economic selling pressure would further exacerbate the pullback.
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 unwinding, leading to a further pullback in the price to $80,000. He believes that Bitcoin could face a 10% pullback risk driven by macroeconomic selling pressure. This means that if Bitcoin breaks below $90,000, investors may be forced to sell their Bitcoin holdings, further driving down prices. This warning suggests that while Bitcoin has performed strongly recently, its price still faces pressure from the macroeconomic environment, and investors need to carefully monitor market changes.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin breaks below $90,000 support, potentially triggering spot ETF liquidation
Macroeconomic sell-off pressure could lead to further pullback in Bitcoin to $80,000
Bitcoin breaking below $90,000 support level would face a 10% pullback risk
$90,000 is a key support level for Bitcoin