The popular cryptocurrency Bitcoin has faced a price drop. Analysts warn that the price may fall to $81,000 due to economic uncertainty and other factors.
Current Bitcoin Decline
Bitcoin lost its support level at $90,000, reaching a low of $87,000. This is related to Donald Trump's tariff statements, ongoing spot ETF outflows, and overall market uncertainty.
Analysts' Opinions
Ryan Lee, chief analyst at Bitget Research, pointed out that the decreasing risk appetite among investors is the main reason for the current sell-off. He warns that continued ETF outflows and diminishing risk appetite could lead to further drops in Bitcoin's price to as low as $81,000.
Possible Consequences
Apart from Bitget analysts, Hong Yea, CEO of cryptocurrency exchange GRVT, also analyzed Bitcoin's decline. He emphasized that $85,000 is important for Bitcoin and that falling below this level could accelerate the decline, causing liquidation of long positions worth $1 billion.
Bitcoin's decline raises concerns among investors, and experts point to key support levels that may determine the cryptocurrency's further trend.
