$BTC 【Bitcoin plummets! The $90,000 support level has been breached】

Earlier this morning, Bitcoin experienced a drop of over 4%, hitting a low of $88,069. The current price is hovering around $89,400, with the critical psychological level of $90,000 already breached, signaling a new phase in the market.

【Core Bull-Bear Battleground】

Strong resistance zone: $90,000-$92,000 (new bull-bear dividing line), $93,000-$94,000 (previous strong resistance area)

Key support zone: $88,000-$89,000 (currently being tested), $85,000-$86,000 (mid-term lifeline)

Main strategy (trend-following): If the price rebounds to around $90,000 or $92,000 and shows signs of weakness, consider this a position for a trend-following short.

Secondary strategy (bottom-fishing, high risk): If hoping for a rebound, it is advisable to patiently wait for the price to reach the strong support zone of $85,000-$86,000 and look for clear signs of a stop-loss before considering. Currently bottom-fishing around $88,000 is considered a high-risk action.

【Market background you must understand】

1. Capital is flowing out: Bitcoin spot ETFs have seen continuous net outflows recently, with institutional capital showing a cautious short-term attitude.

2. Sentiment turns pessimistic: The perpetual contract funding rate has turned negative, with bearish sentiment dominating the market.

3. Leading effect weakens: Bitcoin's market capitalization share has dropped below 60%, and capital may flow to other assets.