$BTC Why Is Bitcoin Crashing Below $90k – What Next For BTC
Trump’s tariff hike, Bybit hack, and EFT outflows were the catalysts for BTC’s price crash to around $86,000.
BTC’s price must reclaim key support of $92,000 to see the structure shift to the upside.
Altcoins suffer more price crashes, but the total market cap for altcoins shows a strong bullish trend.
The cryptocurrency market has been highly unstable in the past few weeks. Bitcoin’s price crashed from its high of $96,000 to a region of $86,000, losing over 13% of its value, while altcoins saw a significant price crash of over 20% amid macroeconomic uncertainties.
Bybit hack, Trump’s US tariffs on Mexico and Canada, and Bitcoin spot ETF outflow since the start of February were all catalysts that fueled the price of BTC as the price crash activated any liquations across the crypto space, leading to altcoins and memecoins seeing new lows.