Bitcoin (BTC) price crashes below $90,000 after failing to hold the key psychological resistance level

Bitcoin (BTC) staged a near 10% recovery to above $95,000

Bitcoin (BTC) dropped back below the $90,000 psychological threshold on Thursday, continuing to struggle despite staging a nearly 10% recovery to above $95,000 earlier in the week.

Analysts said that ongoing macroeconomic uncertainties and a significant reduction in institutional investments in cryptocurrency markets had kept upbeat price momentum at bay.

Bitcoin bottomed out at around $81,400 on Wednesday after forming a double-top chart pattern around $94,200 in the daily chart—a setup that usually suggests an imminent price decline.

From there, the largest cryptocurrency recovered to hit highs of $95,160 early Thursday, before slipping back into the $90,000 zone.

Multiple factors are now putting pressure on Bitcoin to slump further, including US spot Bitcoin exchange-traded funds (ETFs), said Ryan Lee, chief analyst at Bitget Research.

The analyst told Cointelegraph:

The US spot Bitcoin ETFs are now reporting four consecutive weeks of net negative outflows after a strong start to the year saw the funds report 12 straight weeks of inflows.

The ETFs saw a significant reduction in investments as they clocked over $2.6 billion in cumulative net outflows during the last week of February, Sosovalue data showed.

Beyond ETF inflows, macroeconomic factors are also pressuring Bitcoin’s price action, Lee said, adding:

But analysts remained optimistic about Bitcoin’s price trajectory for late 2025, with predictions ranging from $160,000 to above $180,000.

US tariff concerns may be alleviated next week

Some of the concerns related to a potential global trade war may be alleviated with next week’s announcements, said Iliya Kalchev, dispatch analyst at digital asset investment platform Nexo.

The implementation of US tariffs had “weighed in” on crypto markets after they went into effect, leading to declines in digital assets and traditional equities, the analyst said, adding:

Trade policy uncertainty will likely “keep sentiment guarded” while the increased likelihood of Federal Reserve rate cuts may “suggest a potential turnaround” for crypto markets, added the analyst.

Meanwhile, the wider crypto market is still recovering from the $1.4 billion Bybit hack on Feb. 21—the largest in crypto history.