BITCOIN SLIPS UNDER $90,000 AMID ESCALATING WORLDWIDE SELLOFF
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By: Fasasi Hammad
Bitcoin fell to its lowest level in over a week, dropping below $90,000 for the first time since Jan. 9 as a global market selloff intensified amid geopolitical tensions.
The cryptocurrency slid as much as 4% on Tuesday and continued to lose ground in Wednesday’s Asian session, declining 0.5% to $88,894 by 9:27 a.m. in Singapore. The move mirrored losses across equities, long-dated U.S. Treasuries, and Japanese bonds, as investors reduced exposure to risk.
“Ninety-thousand has proven to be a critical support level since the start of the year and is likely an important short-term inflection point,” said Karim Dandashy of Flowdesk.
Smaller tokens experienced sharper declines, with Ether falling more than 7% and Solana down 5.3%. Crypto-related stocks also retreated, as Coinbase Global Inc. dropped 5.6% and Strategy Inc. fell nearly 8%.
“Bitcoin’s sharp drop over the weekend reflects a broader exit from risk assets,” noted Shiliang Tang of Monarq Asset Management, citing U.S. tariff threats and geopolitical tensions over Greenland.
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Japanese bond yields jumped after election-linked tax cut pledges raised fiscal concerns. Meanwhile, Strategy announced a $2.13 billion Bitcoin purchase — its largest since July — indicating ongoing institutional interest.
“Today’s news of MSTR’s largest purchase in seven months shows there remains significant retail and institutional demand for Bitcoin exposure through equity wrappers,” said Jake Ostrovskis of Wintermute.
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