#Bitcoin Risks Falling Below 90,000#
Hot Topic Overview
Overview
Bitcoin is facing the risk of breaking below its $90,000 support level in the near term. Standard Chartered Bank analyst Geoff Kendrick warned that if the support level breaks, it could trigger stop-loss orders for spot ETFs, leading to further pullback in Bitcoin prices, even down to $80,000. This warning has sparked market concerns over Bitcoin's price trajectory, and investors should closely monitor market developments and exercise caution.
Ace Hot Topic Analysis
Analysis
Standard Chartered analyst Geoff Kendrick warned that a break below the $90,000 support level for bitcoin could trigger spot ETF liquidations and lead to further pullbacks in the price of bitcoin to $80,000. He believes macroeconomic sell-off pressure could exacerbate this trend. This means that if bitcoin breaks below $90,000, investors may be forced to sell their holdings, causing prices to fall further. The warning reminds investors to be aware of the volatility of bitcoin prices and to carefully assess market risks.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin breaks below $90,000 support, which could trigger spot ETF liquidations, Macroeconomic sell-off pressure could further push Bitcoin back to $80,000, Bitcoin breaking below the $90,000 support level will face a 10% pullback risk, Standard Chartered warns that Bitcoin breaking below the $90,000 support level will face risks