IMF is a new stablecoin issued a warning and Bitcoin 
$86,989.86 The price lingers at $90,000 during the stock market opening, accelerating the decline. It’s another bearish day for cryptocurrency investors and the excitement of the early week’s rally is fading. Yesterday’s ETF outflows were not good for investors. So how many dollars can Bitcoin drop to?
How Many Dollars Is Bitcoin?
The issues between China and the US have been resolved and the AI bubble discussions are coming to an end. Netflix is preparing for the largest media company acquisition in history, investing over $70 billion, and the stock market is not falling today. What about Bitcoin? BTC Today is another one of those days when he wants to share a reverse correlation with the stock market.
The resistance that has not been overcome for a long time now creates a distressing picture. Maartun drew attention to the increasing mobility.
“Back-to-back 7% moves.
Bitcoin recorded daily moves of 7% for two days in a row, experiencing one of the most volatile periods of the year. “It is a much more active period than the calm at the beginning of 2024.”
This volatility is annoying because it is not in the bulls’ favor. BTC may break $88,000 soon. At the time of writing, it is stalling at $88,700.
Swissblock points out that bullish attempts have failed because buyers are constantly hesitant. When he shared this warning, BTC was just over $90 thousand.
“of Bitcoin The approach to the Annual Opening weakened spot demand. While each upward move is absorbed by sellers, the price remains stable as buyers hesitate. BTC needs to consolidate above $90,000 to rebuild its structure, otherwise bullish attempts will continue to stall. If $90,500-91,500 is lost, $88,500 will be the next turning point.”
As a matter of fact, the price is in this region at the moment. Closes below may lead to a deeper local bottom extending to $84,000 and $80,000.
Cryptocurrencies Are Falling
With BTC falling below 90 thousand dollars again in altcoins Losses also started to increase. BTC enters the weekend with a decline again. In his statements at the time of writing, Trump mentioned that he would discuss tariffs with Canada and Mexico, but there is nothing new.
Washigorira wrote the following in his assessment shared before the decline accelerated;
“BTC it took the previous weekly high but failed to surpass Kijun. A retreat towards Tenkan from here seems logical. This is the key level to watch. If it breaks, the next support level is around $83,900.”
If there is no rapid recovery, the next target for BTC is 83,900.
