Bitcoin Could Drop 10% if Price Falls Below $90,000
Standard Chartered warns that Bitcoin faces a potential 10% price drop if it breaks below $90,000. The leading digital asset recently dropped to $89,256 but recovered above $90,000, currently trading at $96,017.86, up 4.53% in 24 hours.
- Kendrick predicts a drop to the low $80,000s if Bitcoin loses $90,000 support.
- This decline could impact other digital assets similarly.
- Spot Bitcoin ETF purchases are breaking even since the US election.
- Long-term outlook remains bullish with a projected price of $200,000 by year-end.
Recent accumulation trends indicate investor confidence in Bitcoin is high, with a Relative Strength Index (RSI) of 49.54 suggesting balanced buying and selling pressure.
