Bitcoin, the largest cryptocurrency by market capitalization, has been crashing in the market, down by more than 2.7% over the past 24 hours. Currently, BTC is trading below the $90,000 support level with a $38.83 billion daily trading volume. Bitcoin trades at $87,380.04, after failing to hold above the $90K support as a broad sell-off swept through the crypto market. According to the latest market analytics, BTC selling has increased as it slipped below its key psychological level. Following the drop below $90K, stop-loss orders and profit-taking have been triggered, accelerating the BTC downtrend.
On Monday, 29/06/2025, BTC displayed a brief push above $90,000, but failed to sustain the momentum. Bitcoin quickly retreated. Following the drop, BTC’s total liquidations reached approximately $65.8 million over the past 24 hours, indicating a lack of sustained spot demand. Bitcoin’s extended short-term bearish outlook amid the Federal Reserve’s latest 25 basis point rate cut became one of the heated debates in the sector. Generally, riskier assets like BTC pump after a Fed rate cut, but this time, other factors, such as selling pressure linked to year-end tax harvesting, are ruling the market and shaping trends.
BTC holders are closely monitoring the scenario and checking whether they want to sell their holdings. Some experts urged the investors to sell BTC when it climbed above $90K on Monday. Peter Schiff, a veteran gold advocate and longtime crypto critic, stated that Bitcoin was back above $90K and that it was another opportunity to sell. Based on the current market outlook, investors reduce exposure to risky assets like BTC due to macroeconomic concerns such as interest rates, inflation, and global markets.
Investors are commenting on BTC’s current trend. A crypto investor, usernamed @investorie, with more than 10 years of experience in the marketing sector, stated that this wasn’t a trade, but rather balance-sheet positioning. He noted that large, lump-sum BTC buys like this signaled confidence in liquidity and time horizon, not short-term price expectations. He explained that when capital commits this way, it usually means that risk was not being priced as imminent. He added that historically, this phase precedes rotation, as first BTC gets absorbed by strong hands, then attention shifts to assets solving different problems than store-of-value.
Bitcoin Price Decline Deepens as ETFs See $19.3M Outflows; Analyst Predicts Bitcoin Surge to $100K In 2026!
Bitcoin’s price decline has been driven by institutional selloffs and a technical breakdown below key moving averages. On December 29, U.S. spot Bitcoin ETFs saw $19.3 million in net outflows, marking the extension of a seven-day streak. The consistent institutional outflows indicate fading institutional confidence and year-end profit-taking. BTC is currently trading below its 50-day SMA of $91,536, and it broke below its 23.6% Fibonacci retracement ($92,067).
Other major cryptocurrencies, including Ethereum (ETH), Solana (SOL), XRP, and Dogecoin, have all experienced a downtrend and crashed in the cryptocurrency market. Ethereum, the second-largest cryptocurrency by market cap, reportedly fell more than 1.1%, underperforming in the cryptocurrency market. The digital asset is now trading below the $3,000 psychological level, signalling the broader cryptocurrency market downtrend.
Experts are forecasting a price rebound in 2026, and they believe the consolidation phase will end soon. Crypto analyst, The Gentleman, posted on X that many people expected Bitcoin to rebound from $88k to the $100k–$102k range before dropping back down to $60k–$70k. He mentioned that the scenario might have made sense if the price had bounced quickly off the $85k mark. However, he noted that Bitcoin had been consolidating around $85k for 4 to 8 weeks. He interpreted this sideways movement as a strong signal that the market refused to let the price drop any lower. He believed that the correction was over and that 2026 would see Bitcoin hitting new all-time highs and leading them into another bull market.
