Bitcoin dropped to $91,000 around midday yesterday, then briefly fell below $90,000 later in the session as it tracked losses in US stocks. It later hovered back above that level. Ethereum was also under pressure and only narrowly held $3,000. Based on the daily chart cited in the source, BTC has moved back below its short-term descending trendline, leaving the near-term setup tilted to the downside.
US stock weakness fed directly into crypto selling
The source said the slide in US equities was tied to worsening tensions between the US and Europe. Relations have deteriorated quickly after Trump said he wanted to take Greenland. Denmark’s pension fund Akademiker Pension also signaled that it would liquidate its US Treasury holdings by the end of the month. That added to market concern that the US and Europe could drift toward a trade conflict, while broader uncertainty around the global order pushed risk appetite lower. US stocks fell sharply at Tuesday’s open, and crypto prices followed.
$90,000 has become the near-term line to watch
The article argues that Bitcoin has become heavily tied to US developments, making the crypto market highly sensitive to political and macro news from the country. Recent headlines out of the US have weighed on investor sentiment, and the source says Trump’s aggressive moves have added more uncertainty to the market. At the same time, gold and silver have continued to hit fresh highs, while cryptocurrencies, treated as risk assets, have remained under pressure. In the source’s view, the chance of BTC falling below $90,000 again in the short term remains high.