#Bitcoin Below 90,000 Risk#
Hot Topic Overview
Overview
Bitcoin is facing the risk of falling below the $90,000 support level in the near term, according to Geoff Kendrick, an analyst at Standard Chartered Bank. Kendrick warned that breaking below this level could trigger spot ETF liquidation, leading to a 10% pullback in Bitcoin's price and potentially pushing it down to $80,000. This risk stems from macroeconomic sell-off pressures. Investors need to closely monitor Bitcoin price movements and prepare for potential risks.
Ace Hot Topic Analysis
Analysis
Standard Chartered analyst Geoff Kendrick has warned that a break below the $90,000 support level in Bitcoin could trigger spot ETF liquidation and lead to further price declines. He pointed out that Bitcoin could retrace to a low of $80,000 amid macroeconomic selling pressure. This means that if Bitcoin falls below $90,000, investors may be forced to sell their holdings, intensifying the market decline. This warning suggests that investors need to closely monitor Bitcoin's price action and be prepared for potential risks.
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 further push Bitcoin back to $80,000
Bitcoin breaking below the $90,000 support level would face a 10% pullback risk
Standard Chartered Bank is cautious on Bitcoin price action