Bitcoin Plunges Below $90K Amid Venezuela Strikes
Bitcoin crashes below 90.000 as geopolitical relations deteriorate due to US airstrikes in Venezuela. The market signals turn towards a bearish trend.
Following the US military intervention in Venezuela, Bitcoin fell beneath 90,000. It currently trades at $89,939.10, and on-chain data points to the potential shift towards a bear market.
Bitcoin fell below 90,000 after the US airstrikes on Venezuela, and currently stands at $89,939.10. The hopes of a rebound faded as traders observed mounting tensions.
Cryptorover articulated dismay on X: We were just beginning to rebound, the analyst explained. This is so infuriating. The remark reflects wider market panic with Bitcoin finding it difficult to find support.
Technical Patterns Point to Deeper Correction
According to historical charts, there is more downside to come. A pattern on X highlighted by alicharts in early 2022 is concerning. The analyst tweeted that in early 2022, Bitcoin dropped out of the 50-week SMA, and that the price re-tested resistance before declining once more.
Should the same pattern repeat again, the recovery to approximately $103,000 may occur, though Alicharts warns that the subsequent decline to approximately 42,000 may occur. The analysis indicates that the investors face a lot of volatility.
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On-Chain Data Reveals Transition Phase
Yonsei_dent, a CryptoQuant analyst, noted that the Supply in Profit fact is 68.85% to represent a combination of profit-holding and continuing gains.
Source:CryptoQuant
During bull markets, this value is usually more than 80; during bear markets, it is 55 or even less. The latest reading is not at each of these extremes, but has been decreasing since October 2025.
Yonsei_dent cautioned that this is not a temporary dip: The analysis says that a multi-month falling pattern is an indicator of market exhaustion. Late-cycle characteristics that arose in the data were pointed out by the researcher.
Risk assets continue to be pressured by geopolitical risks. The increasing global tensions have increased safe-haven demand, and the deteriorating macro conditions are also headwinds facing Bitcoin. The transition process is going to determine the direction of the market.
Large periods of consolidation increase the chances of a bear market. A reversal above 75-80% would be an indication of a potential extension of the cycle.
The conservative positioning is critical as the internal market indicators decline.With markets fundamentally worsening, conservative positioning becomes imperative.
The post Bitcoin Plunges Below $90K Amid Venezuela Strikes appeared first on Live Bitcoin News.
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