#Bitcoin Risks Falling Below $90,000#
Hot Topic Overview
Overview
Bitcoin currently faces the risk of falling below the $90,000 support level, Geoff Kendrick from Standard Chartered Bank warned. If this support level is broken, it could trigger spot ETF liquidations, leading to a 10% pullback in Bitcoin price, potentially falling further to $80,000. This risk mainly stems from macroeconomic sell-off pressure. Investors need to closely monitor market developments and be prepared for any potential event.
Ace Hot Topic Analysis
Analysis
Standard Chartered analyst Geoff Kendrick has warned that a break below the $90,000 support level for Bitcoin could trigger spot ETF liquidations and lead to further declines to $80,000. He believes macro sell-off pressure could exacerbate this trend. This means that if Bitcoin falls below $90,000, investors could be forced to sell their holdings, leading to further price declines. The warning suggests that the Bitcoin market is currently facing significant downside risks, and investors need to closely monitor market dynamics and be prepared for price volatility.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin breaks below $90,000 support level, potentially triggering spot ETF liquidations, macro sell-off pressure could further exacerbate Bitcoin pullback
Bitcoin breaking below the $90,000 support level could lead to a 10% pullback
Bitcoin could fall to a low of $80,000