Bitcoin Price Today: The cryptocurrency market remained under tremendous pressure on Tuesday, with Bitcoin falling to $89,390. This is its lowest level since April. According to experts, heavy withdrawals from ETFs, short positions of institutional investors and decreasing liquidity turned a normal correction into a deep fall. Bitcoin has fallen 15 percent in the last one week and has fallen more than 33 percent from its all-time high price in October. Although there was a slight recovery in prices around 2:30 pm and Bitcoin was seen trading at $91,185, but the 24-hour fall of 4.5 percent made the weakness of the market clear.
Major cryptocurrencies also under pressure
Not only Bitcoin, but other top cryptocurrencies were also affected by heavy selling. Ethereum has entered the bearish phase after losing the important support level of $3000. Binance Coin (BNB) slipped below $900, while Solana hovered around $130. Dogecoin is trading around $0.15 and Cardano around $0.45. Despite this fall, XRP managed to stay above $2.11, while Chainlink remained at $13.11. CoinDCX Research Team says that ‘Crypto Winter’ has started in the market, as prices have fallen to April levels and sentiment has reached ‘Extreme Fear’.
Experts warn – sentiment, structure and psychology are colliding
Pi42 co-founder Avinash Shekhar said Bitcoin trading around $90,000 is rekindling the four-year cycle debate among investors. ETF outflows, whale short selling and low liquidity have combined to deepen this decline. He told that Ethereum is also struggling and the profitability of XRP has reached its lowest level of the year. The market is currently struggling with the question whether this decline is a sign of crypto winter or a clean-up before a big recovery. The coming few trading sessions will decide this direction.
Some coins rose, many tokens fell heavily
Some tokens remained strong even amid the fall. Internet Computer registered a gain of 11.7 percent, Filecoin rose by 5.5 percent and Hyperliquid also saw a rise of more than 3 percent. On the other hand, Starknet fell by 20 percent, while Dash and Zcash fell by more than 15 percent. Pump.fun and Decred also saw a decline of up to 13 percent. This huge fluctuation in market sentiment has alerted investors.
Activities of big players and pressure on ETFs
Amid the market decline, the strategy firm took another big step and bought bitcoins worth $100 million and now it has a total of 6,49,870 BTC. At the same time, DappRadar announced the closure of the platform after seven years citing financial crisis. BTC futures have turned negative for the first time since March, indicating increasing uncertainty in the market. On the other hand, 4 new spot ETFs for XRP are going to be launched this week and 3 more are coming in the next 21 days, which may provide stability to its prices.
What signals for investors?
Overall, the crypto market is at a turning point. The decline of Bitcoin and the pressure on major tokens indicate that the market is currently in a state of fear and uncertainty. Will this decline turn into a long crypto winter or will a new rally begin? This will depend on investor sentiment and institutional flows in the coming days. At present, experts advise that investors should be cautious, assess the risk and avoid panic selling.
