Bitcoin Drops Below $90K: Could $69K-$70k Be Next? Key Levels and Parallel Charts to Watch
Bitcoin slipped below $90,000 for the first time since November, sparking fears of further declines to $69,000 amid market volatility and a stronger US dollar.
- BTC Breaks $90K: Bitcoin’s drop to two-month lows wiped out nearly $500M in crypto long positions, per CoinGlass.
- Bearish Signals: Analysts point to critical support at $86K, with further risk of a decline to $76K or even $69K, last seen during Bitcoin's 2021 peak.
- Macro Pressure: Rising US dollar strength, inflation concerns, and talk of Trump-era tariffs have rattled risk assets, including Bitcoin.
Bearish traders warn of a head-and-shoulders pattern signaling more downside.
Optimists highlight low funding rates and parallels to January 2024 price action as signs of a potential rebound.
Upcoming US inflation data and Federal Reserve decisions could shape Bitcoin’s next move. Some argue Bitcoin must prove itself as a hedge against inflation amid fears of prolonged high-interest rates.
At its current crossroads, Bitcoin’s path will be closely tied to macroeconomic developments. Will $86K hold, or could $69K become reality?
