#Bitcoin Risk of Dropping Below $90,000#
Hot Topic Overview
Overview
Bitcoin is facing downside risks in the near term. Standard Chartered analyst Geoff Kendrick warns that a break below the $90,000 support level could trigger spot ETF liquidations, pushing the cryptocurrency down to $80,000. He believes that macroeconomic selling pressure could exacerbate this trend.
Ace Hot Topic Analysis
Analysis
Standard Chartered Bank analyst Geoff Kendrick has warned that a break below the $90,000 support level for Bitcoin could trigger spot ETF liquidations, leading to further declines in the price of Bitcoin. He believes that Bitcoin could pull back to the $80,000 level under pressure from macroeconomic selling. This means that if Bitcoin breaks below $90,000, investors may sell their holdings, causing prices to decline further. This would have a negative impact on the entire cryptocurrency market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin breaks below $90,000 support, potentially triggering spot ETF liquidations
Macroeconomic sell-off pressure could further push Bitcoin lower
Bitcoin pullback could deepen to the $80,000 low
Bitcoin faces a 10% pullback risk