Bitcoin Loses $90,000 As Ethereum, XRP, Dogecoin Crash 9% On Bear Market Fears

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:

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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