$BTC Bitcoin falls under $91K — Bitfinex says it’s at a ‘critical juncture’
Bitcoin has dropped below $91,000, marking its lowest price since late November, as market momentum stalls. Analysts at Bitfinex warn that Bitcoin is at a “critical juncture” after nearly 90 days of consolidation between $91,000 and $102,000.
The broader crypto market also fell 8% in the past day, dropping from $3.31 trillion to $3.09 trillion. The decline coincided with former U.S. President Donald Trump confirming that his planned 25% tariffs on Canada and Mexico will proceed as scheduled.
This triggered a wave of liquidations, with over $961 million wiped out, including $891 million in long positions. Long Bitcoin bets accounted for $277 million of the total liquidations, according to CoinGlass.
Bitfinex analysts note that Bitcoin is increasingly correlating with traditional financial markets, which have also seen downturns. The S&P 500 fell 2.3% in the past five trading days, while the Nasdaq Composite dropped 4%. Institutional demand for Bitcoin through spot ETFs has also slowed, with weekly outflows reaching $552.5 million as of Feb. 21.
Economic uncertainty is further pressuring the market. A University of Michigan survey reported a 10% drop in U.S. consumer sentiment in February, hitting a 15-month low. Analysts also warn that Trump’s proposed tariffs could increase inflationary pressures, reversing progress made in disinflation over the past two years.
