Bitcoin Slides Below $90K, Analyst Eyes $84K–$86K as Potential Bottom
Bitcoin’s brief rebound on Tuesday proved short-lived, falling 4% below $90,000, while ether ETH$2,834.89 dropped 6.5% under $3,000. Tuesday’s gains had been rare, with BTC climbing even as U.S. stocks edged higher.
Crypto equities mirrored the weakness. MicroStrategy (MSTR) fell over 8% to a one-year low, while Circle (CRCL), BitMine (BMNR), Bitfarms (BITF), and Hive Digital (HIVE) also declined.
Investor sentiment remains muted, with the Crypto Fear & Greed Index signaling “Extreme Fear.” Vetle Lunde of K33 noted the 30% drop over 43 days is among the steepest since 2017. ETF outflows—$2.3 billion in five sessions—have compounded selling pressure.
“BTC has fallen below the average ETF cost basis,” Lunde said. “A bottom may form between $84,000 and $86,000, or April lows could be tested.”
