Bitcoin's price has dropped below the $90,000 support level, causing a negative sentiment among traders. Institutional investors have been pulling out of Bitcoin funds, leading to concerns about the future of the BTC bull run. On-chain data shows a decline in non-exchange BTC holdings and whale transactions, indicating a selling pressure on the token. Technical indicators suggest further correction in Bitcoin's price, with key support levels at $85,072, $81,500, and $76,900. The recent Bybit hack and institutional fund outflows are contributing to the bearish shift in Bitcoin. Traders are adjusting their positions with increased market uncertainty reflected in the ATM IV.



Other News from Today