Bitcoin Price Nears Losing $90,000: Deeper Sell-Off Could Be Coming Next

Bitcoin's recent price rebound was short-lived, causing concern about market fragility as it nears the critical $90,000 psychological support level. Analysis of the Short-Term Holder Cost Basis model shows Bitcoin remains below the confidence-signaling mean near $99,100, indicating new buyers lack conviction. Furthermore, momentum indicators suggest selling pressure is not exhausted, as the Relative Strength Index (RSI) has not yet hit the historical reversal level of 38.1 or lower, implying further downside may be needed to reset sentiment. Derivatives data highlights significant risk, with $2.13 billion in leveraged long liquidations concentrated around $86,200; a drop below $90,000 could trigger a cascading sell-off toward this critical support zone. A bullish reversal requires Bitcoin to decisively reclaim $91,511.

(Source：BeInCrypto)