Bitcoin (BTC) is testing a key support level after a sharp drop from its peak. It fell under $90,000 recently and is hovering above the lower edge of a bearish chart pattern. Analysts are watching as the risk of further downside grows, with some pointing to $60,000 as the next possible target.
Bitcoin Slips Below $90K on Global Market Jitters
Bitcoin spent the weekend trading around $95,000 but lost momentum as global markets opened. The move followed fresh tensions between the US and the EU, along with movements in Japanese bond markets, which led to increased pressure on risk assets, which was enough to pull it down from $95,500 to under $92,000.
The cryptocurrency made a small recovery later in the day but slipped early Tuesday again, reaching a low of $87,900 before bouncing back to around $89,000. At the time of writing, Bitcoin is priced at around $89,100. The asset is down 2% over the past 24 hours and almost 6% over the past week (per CoinGecko’s data).
Bear Flag Breakdown Ma
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