#BTC90kBreakingPoint

Bitcoin's price has been under pressure, breaking below the $90,000 support level, a seven-month low. This decline has triggered a wave of selling, with the cryptocurrency's market capitalization dropping to $1.80 trillion. The current price is around $83,927.84, down 8.83% from the previous close ¹ ² ³.

*Key Factors Influencing Bitcoin's Price:*

- _Institutional Selling_: Record outflows from Bitcoin ETFs, with $2.8 billion withdrawn in November, are contributing to the price pressure.

- _Macroeconomic Uncertainty_: Concerns about inflation and potential interest rate changes are dampening investor sentiment.

- _Technical Indicators_: Bitcoin's Relative Strength Index (RSI) is in the high 30s, signaling potential continued bearish sentiment ² ⁴ ⁵.

Analysts predict that if Bitcoin holds above $90,000, it could rebound to $96,000 or higher. However, if it breaks below $83,800, it may target $75,000 or lower ⁶ ⁷.