Bitcoin (BTC) Price Dips Below $90,000, Continuing Its Steep Slide Since November

Bitcoin slipped below $90,000

Bitcoin slipped below the $90,000 mark on Tuesday, continuing its steep decline from November highs amid macroeconomic concerns and a major exchange hack that rattled investor sentiment.

Investor mood soured amid U.S. tariff worries and a $1.5 billion hack on Bybit, pushing the world’s top cryptocurrency down 3% on the day.

As analysts warned of more turbulence ahead, former Binance CEO CZ chimed in, poking fun at future headlines lamenting a Bitcoin “crash” from $1,001,000 to $985,000. He argued that as Bitcoin’s market cap grows, volatility will gradually decrease, rendering even a 2% dip worthy of note.

Technical analysts remain wary, suggesting that prices might slip further before any rebound.

“We’re not seeing any strong bottom yet,” said one expert. “Bitcoin still needs to break above any resistance, and the price pattern suggests prices could fall further. There’s strong support around $82,000 to $85,000, but we might see another low before a real rebound.”

Cryptoasset Sentiment Index (CSI) has plunged to extreme bearish levels.

Historically, when negative sentiment reaches such levels, it has often marked local bottoms for Bitcoin, suggesting that the risk of further declines might be minimal.

Widespread bearishness across derivatives, on-chain activity, and investor flows strengthens the case for a potential price bounce. Market analysts suggest that Bitcoin could find support between $82,000 and $85,000 before stabilizing. Some traders also anticipate a short-term recovery toward the $91,000 region before the next decisive move.

Tariffs as crypto fuel? Balaji Srinivasan’s market prediction

Meanwhile, former A16Z investor Balaji Srinivasan suggests that rising nationalism and economic protectionism will drive global finance on-chain. He argues that while tariffs may weaken the domestic market, they could speed up crypto adoption. This is because tariffs might push money into decentralized networks run by smart contracts.

Currently, the direction of Bitcoin’s next move remains uncertain. Investors are closely watching the $91,000 resistance level and the possibility of further losses. The question of whether the market will stage a rebound or continue to correct remains open.