Bitcoin Drops Under $90K for First Time in Seven Months

Bitcoin fell under $90,000 on Tuesday for the first time in seven months, signalling a sharp drop in risk appetite across global markets. The cryptocurrency has wiped out its 2025 gains and now sits almost 30% below its October peak of more than $126,000. It was down 2% in the Asia afternoon at $89,953 after breaking through key support around $98,000 last week.

Analysts said uncertainty around future US interest rate cuts and growing nervousness in broader markets, which have stumbled after a lengthy rally, are weighing heavily on crypto.

Joshua Chu, co-chair of the Hong Kong Web3 Association, said the retreat has been intensified by companies and institutions rushing to unwind positions they built during the surge. This, he noted, increases the risk of contagion across the sector.

«When support thins and macro uncertainty rises, confidence can erode with remarkable speed,» he said.

Shares linked to digital assets have also slumped. Crypto treasury holder MicroStrategy, miners such as Riot Platforms and Mara Holdings and exchange Coinbase have all fallen in line with the gloomier sentiment.

Kursiv also reports that Bitcoin briefly touched $93,000 in early Asian trading on Monday before rebounding.