Bitcoin hangs barely above $91,000 as global stocks stay muted ahead of Nvidia earnings
Source Cryptopolitan
- Bitcoin’s barely clinging to $91,000, after briefly dipping below $90K during the day, and gold is creeping higher from a one-week low as nerves build across asset classes.
- Dow futures slipped 47 points (–0.1%), while S&P 500 and Nasdaq 100 futures dropped 0.2% and 0.3% respectively.
- The S&P 500 just marked its longest losing streak since August, down for four days straight. Nasdaq has lost ground in five of its last six sessions.
Disclaimer: For information purposes only. Past performance is not indicative of future results.
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Bitcoin's price has plummeted beneath the $100,000 mark, reflecting increased caution in the market toward risk assets. With large investment funds and corporate treasuries pulling back, signs of a bear market are becoming apparent, leading analysts to note a significant decline in market sentiment. Concurrently, demand for protective options in the derivatives market has surged, indicating heightened investor fears about future price movements. Despite Bitcoin maintaining some gains since the beginning of the year, recent trends raise concerns, necessitating close attention to upcoming critical support levels.
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Bitcoin (BTC-USD) extended its losses on Monday, slipping below the $92,000 mark and pushing its decline from October’s all-time high to more than 26%. The ongoing downturn has reignited a key debate among traders: Is this a short-term correction, or the start of a prolonged bear market driven by Bitcoin’s historical four-year cycle?
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