Bitcoin's recent decline below $90,000 can be attributed to several key factors

1. Bybit Exchange Hack: A significant security breach on the Bybit exchange resulted in the theft of approximately $1.5 billion, primarily in Ethereum. This event has undermined investor confidence across the cryptocurrency market.

2. Geopolitical and Economic Concerns: The current U.S. administration's unpredictable policy changes, including recent tariff announcements, have introduced uncertainty into global markets. These geopolitical tensions and economic fears have negatively impacted high-risk assets like Bitcoin.

3. Regulatory Uncertainty: Speculation about potential stricter regulations, especially concerning stablecoins, has created apprehension among investors. Proposed legislation, such as the "STABLE Act" and the "GENIUS Act," could impose more stringent reserve requirements, affecting market dynamics.