Bitcoin has plummeted below $90,000 as heavy uncertainty continues to dominate sentiment.
Notable Statistics:
- Coinglass data shows 163,838 traders were liquidated in the past 24 hours for $538.08 million.
- In the past 24 hours, top gainers include Starknet, MYX Finance and Pi.
Notable Developments:
- Webull Q3 Preview: Will Crypto Trading Relaunch Jolt Revenue?
- Kraken Confidentially Files For IPO, Targets $20 Billion Valuation
- Cardano’s Charles Hoskinson Warns Trump-Era Crypto Boom Was ‘A Rib-Crushing Hug’
- Can Bitcoin Crash To $10,000? Yes, If It Follows This 2018 Pattern, Expert Says
- BlackRock’s Bitcoin ETF Sheds Record $520 Million: What’s Up With IBIT?
- Coinbase Executive Admits Donation For $300 Million Ballroom Made To Maintain ‘Good Relations’ With Trump White House
Trader Notes: Scott Melker highlighted that Bitcoin has finally retested the March trendline support near $88,000, almost to the dollar.
Whether or not this marks the bottom, he argues the zone represents a compelling long-term accumulation level.
Altcoin Sherpa sees another leg down as possible, noting $85,000 isn't far below and lines up with a significant volume profile support, making it a realistic next target if weakness continues.
Lark Davis added that, according to the classic four-year cycle, Bitcoin has officially slipped into bear-market territory. That leaves two outcomes:
- The cycle model is breaking down,
- Bitcoin has quietly entered a new bear phase.
Given today's liquidity backdrop, institutional depth, and how the market structure has matured, he believes it's far more likely the four-year cycle is becoming obsolete rather than Bitcoin beginning a traditional bear market.
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