Bitcoin slipped below the psychologically important $90,000 level as selling pressure intensified across the broader crypto market, pulling total market capitalization lower and pushing several major assets into short-term oversold territory.
According to market data, Bitcoin fell to around $89,400, marking a daily decline of nearly four percent and extending weekly losses beyond six percent. The move places Bitcoin firmly below a key round-number support zone that had acted as a stabilizing level during recent consolidation.
Key takeaways
- Bitcoin fell below $90,000, losing a major psychological support level.
- Daily losses approached 4%, with weekly declines exceeding 6%.
- Total crypto market capitalization slid to about $3.02 trillion.
Bitcoin’s drop below $90,000 comes as short-term technical indicators continue to deteriorate. The average crypto relative strength index has moved into oversold territory, while the Fear and Greed Index remains near neutral, suggesting sentiment has cooled rapidly without tipping into full capitulation.
Trading volume in Bitcoin stayed elevated during the decline, pointing to active de-risking by traders rather than low-liquidity price swings. This behavior typically reflects caution and position trimming amid rising uncertainty.
Altcoins extend losses as risk appetite fades
Altcoins have seen even sharper declines, underperforming Bitcoin as risk appetite weakened across the market. Ethereum dropped nearly ten percent over the past week, falling below the $3,000 level as selling pressure intensified across decentralized finance and smart-contract tokens.
Layer-one networks also came under heavy pressure. Solana posted double-digit weekly losses, reflecting reduced speculative activity and lower demand for high-beta assets. Meanwhile, XRP declined even more sharply, with traders unwinding positions amid broader market weakness.
Other major tokens followed the same trend. BNB slipped alongside centralized-exchange-linked assets, while meme-driven tokens such as Dogecoin also moved lower as speculative interest cooled. The underperformance of altcoins suggests investors are rotating away from higher-risk segments rather than selectively reallocating within the market.
Market context and levels to watch
Despite the pullback, Bitcoin and major altcoins remain well above their longer-term cycle support zones. However, the loss of $90,000 for Bitcoin and key technical levels across altcoins shifts focus toward whether buyers will step in or allow the correction to deepen.
For now, Bitcoin’s break sets the tone for the broader market. A recovery above that level could help stabilize sentiment across altcoins, while continued weakness may keep pressure on higher-risk tokens in the near term.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Source: https://coindoo.com/bitcoin-slips-below-90000-as-crypto-market-sell-off-deepens/