Bitcoin Price Prediction: Is $90,000 the Next Stop as Markets Get Ready for a Drop?
Bitcoin recently broke its all-time high, but it looks like it might be cooling off for a while. As the market becomes more unstable and leverage starts to unwind, a lot of traders are asking the same question: Could Bitcoin tumble down below $90,000 before its climb starts again?
A good correction or the start of a bear trend?
Bitcoin has dropped around 0.7% in the last 24 hours, yet trade volumes have gone up by 3%, which means more people are trading. Analysts say that this retreat is probably a healthy break and not a negative turnaround. TradingView says that Bitcoin has fallen below its short-term exponential moving averages, which is frequently a sign that it may consolidate for a short time.
The Fear and Greed Index has dropped from 76 to 57, which is a good sign that the market has gone from being greedy to being neutral. This change happens at a time when there are more global tensions, especially because US-China trade discussions have hit a dead end. This has made risk assets, like cryptocurrencies, nervous.
Shakeout of leverage and market mood
Since the latest price top, open interest in Bitcoin futures has gone down, which could mean that traders are taking profits and making fewer risky bets. During the latest US trading session, long positions worth around $200 million were closed. Sometimes termed a “long squeeze,” this flush-out of too much leverage frequently makes room for a rally that lasts longer.
CoinMarketCap says that this reset of mood might be what the market needs to go up again.
Important Price Levels to Watch
Right now, everyone is watching the support zones at $105,000 and $103,700. If current levels don’t hold, the next likely demand zone is between $90,000 and $95,000. This retreat might be the start of Bitcoin’s next rise, especially if the economy starts to pick up.
Even though the trend right now is cautious, many experienced traders see this dip as a chance to buy, not a warning sign.