#Bitcoin risks dropping below $90,000#
Hot Topic Overview
Overview
Recently, Bitcoin prices are facing downside risks. Standard Chartered analyst Geoff Kendrick warned that if Bitcoin breaks below the $90,000 support level, it could trigger spot ETF liquidations, leading to further declines in Bitcoin prices to $80,000. He believes that macroeconomic sell-off pressure is the main reason for the decline in Bitcoin prices.
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 liquidation, leading to further declines in Bitcoin price. He believes Bitcoin could fall to as low as $80,000 under pressure from macro selling, implying a 10% downside risk. The warning suggests that investors need to closely monitor Bitcoin's price action and be prepared for potential risks.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Bitcoin breaks below $90,000 support, potentially triggering spot ETF liquidations
Macroeconomic selling pressure could further drive Bitcoin's pullback
Bitcoin breaking below $90,000 support could lead to a 10% pullback
Bitcoin could fall to $80,000 lows