Bitcoin Falls Below $90,000 for First Time in Nearly 7 Months as Analysts Predict Bottom Near $84K
BTC/USDT
$17,366,629,629.18
$71,554.95 / $68,531.50
Change: $3,023.45 (4.41%)
-0.0023%
Shorts pay
COINOTAG reports that Bitcoin briefly traded below $90,000, marking a 5.9% daily decline and a roughly 28% retracement from the recent peak. The move underscores renewed risk-off sentiment in the crypto market and tests near-term support for BTC and other leading assets.
Analysts identify signs of a potential top in this cycle, with some investors eyeing a re-entry near $75,000 if price action stabilizes, while others warn that the October sell-off may suppress near-term buying pressure.
Monthly perspectives for BTC and ETH show cracks, though both remain within a historically elevated range. Cross-asset signals in equities and credit markets suggest a broader asset adjustment rather than a single-market shock.
Views vary on near-term catalysts: some observers anticipate relief after upcoming events, while others stay constructive on Ethereum’s ecosystem and institutional demand as a longer-term driver for crypto adoption.