Investor sentiment across global markets has been turning noticeably cautious in recent weeks, creating a more fragile backdrop for risk-oriented assets. Bitcoin has begun to lose momentum, edging downward as traders reassess the economic outlook and brace for shifting financial conditions. This cooling confidence has now pushed the cryptocurrency below the $90,000 mark for the first time in seven months.
The cryptocurrency is now down almost 30% from its October peak above $126,000. It traded at $89,953 in the Asia afternoon session after falling through an important support level near $98 last week. Market observers said worries over future United States interest rate cuts and a broader pullback in global markets are weighing heavily on digital assets.
Some market participants pointed to large investors stepping back after months of strong buying. Joshua Chu, co-chair of a Web3 association in Hong Kong, said the downturn has been deepened by exits from companies and institutions that had moved in during the rally. He added that “when support thins and macro uncertainty rises, confidence can erode with remarkable speed.” Shares of major crypto related firms including a crypto stockpiler, mining companies such as Riot Platforms and Mara Holdings and the exchange Coinbase have also fallen in line with the weaker sentiment. Stock markets across Asia were broadly lower on Tuesday, with technology shares in Japan and South Korea coming under pressure.
Ether has faced similar challenges, losing nearly forty percent from its August high above $4,955 to trade at $2997 dollars on Tuesday. A bitcoin decline earlier this year was followed by a wider selloff in equities in April after the announcement of United States tariffs, raising concerns that the latest crypto tumble could again signal broader market stress. Matthew Dibb, chief investment officer at Astronaut Capital, said “all in all sentiment is pretty low in crypto and has been since the leverage wipeout of October” and noted that the next major support level is $75,000 if market volatility continues.
Also read: Viksit Workforce for a Viksit Bharat
Do Follow: The Mainstream formerly known as CIO News LinkedIn Account | The Mainstream formerly known as CIO News Facebook | The Mainstream formerly known as CIO News Youtube | The Mainstream formerly known as CIO News Twitter
About us:
The Mainstream formerly known as CIO News is a premier platform dedicated to delivering latest news, updates, and insights from the tech industry. With its strong foundation of intellectual property and thought leadership, the platform is well-positioned to stay ahead of the curve and lead conversations about how technology shapes our world. From its early days as CIO News to its rebranding as The Mainstream on November 28, 2024, it has been expanding its global reach, targeting key markets in the Middle East & Africa, ASEAN, the USA, and the UK. The Mainstream is a vision to put technology at the center of every conversation, inspiring professionals and organizations to embrace the future of tech.
