Bitcoin Dips Below $90,000—Is the Bull Run Over or Just Taking a Breather?

Bitcoin’s dream rally has hit a major roadblock. After falling below $89,000 for the first time since November 2024, fears of a deeper correction have gripped the market. The catalyst? U.S. President Donald Trump’s renewed "Tariff War," imposing 25% tariffs on Canada and Mexico. This move rattled both traditional and crypto markets, dragging total crypto market capitalization below $3 trillion.

With market sentiment plunging to 25—the same levels seen during the FTX collapse—Bitcoin is now sitting at the neckline of a major bearish pattern, raising concerns about whether more downside is ahead.

Is Bitcoin’s Structure Still Bullish?

🔹 Descending Parallel Channel – BTC mirrors a pattern from early 2024, when prices dropped to $54,000 before soaring to $109K.

🔹 Key Support at $85,000 – A test of this level could trigger a rebound.

🔹 RSI Declining to 44.39 – Momentum is cooling, but a reversal could be near.

🔹 MACD Still Positive – Despite rising selling pressure, BTC’s weekly MACD suggests a potential bounce.

What’s Next for Bitcoin?

📌 Bullish Case – If Bitcoin bounces off support at $85K, a breakout from this descending channel could push it to a new ATH above $112K.

📌 Bearish Case – If BTC fails to hold, it could face extended downside pressure, breaking below key support zones.

The bull run isn’t necessarily over, but BTC is at a critical turning point. If history repeats itself, this correction could be the reset needed before a push to new highs.

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