Bitcoin (BTC) Price News: Back Below $90K as Crypto Correction Ranks Among Worst
CoinDesk
Bitcoin fell below $90,000 again, with the current crypto correction being one of the worst since 2017, according to K33 research.Summary
Bitcoin resumed its slide, dropping 4% back below $90,000, reversing a brief period of outperformance against U.S. stocks. Ethereum also fell significantly, and crypto-related equities mirrored the decline. Vetle Lunde, head of research at K33, noted that the current drawdown of nearly 30% in 43 days is among the worst corrections lasting over 50 days since March 2017. This selloff is exacerbated by steady outflows from U.S.-listed spot BTC ETFs, totaling nearly $2.3 billion over five sessions. Lunde suggests a potential local bottom could form between $84,000 and $86,000 if the drawdown mirrors previous deep corrections, though a revisit of the April low around $74,433 remains possible.
(Source：CoinDesk)