Bitcoin Crashes Below $90,000 as Analysts Target Deeper Drop

The leading cryptocurrency now trades near $89,200, marking a sharp intraday decline and extending losses across the past week. The retreat comes amid tightening market liquidity and trader positioning that continues to unwind after failed bullish attempts.

Market Technicals Point Toward Lower Levels

TradingView data shows a continuation of downside pressure, with Bitcoin forming lower highs and lower lows — a textbook bearish structure suggesting sellers remain in control.

RSI readings hover around 41, indicating fading bid strength without fully entering oversold territory. Meanwhile, the MACD remains firmly negative, reinforcing stagnant momentum and a lack of clear reversal signals.

Analysts Expect Further Declines Toward $87,800

Popular trader Crypto Tony highlighted ongoing bearish momentum today, noting that Bitcoin has yet to reclaim key resistance levels.

“We printing today legends. Next take profit off the short is $87,800. Big FVG to fill here,” he told followers, pointing to inefficiencies on the chart that could act as downside magnets.

In a separate update, Tony said buyer conviction remains weak unless price action flips major levels:

“A safe long would only be considered if we flip $91,800 into support. For now, we have a lower low, so this is bearish. I remain short from this morning.”

This aligns with the current market structure, as traders brace for continued downside unless Bitcoin can reclaim broken support zones.

Leverage Flush Deepens Price Damage

Position data shows $167 million in total liquidations, with $146 million in wiped‐out long positions, signaling capitulation among leveraged bulls.

Only $21 million in shorts were liquidated, reflecting that sellers remain largely in control.

This imbalance reinforces the view that Bitcoin’s decline is not solely technical — forced liquidations are accelerating the move.

Market Foundation Remains Large Despite Pressure

While the short-term mood is pessimistic, underlying market depth remains sizable. Bitcoin’s market capitalization still sits at roughly $1.78 trillion, and 24-hour trading volume remains elevated at $59.5 billion, suggesting that volatility — not abandonment — is driving current price action.

Analysts will be watching whether bulls defend the $87,800–$88,500 region, or whether deeper inefficiency zones attract price before a recovery attempt.

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