The price of Bitcoin broke below the important psychological level of $90,000 in the early morning of December 13, reaching a low of $89,800, creating a recent low. This round of sharp decline is closely related to the collective sell-off of U.S. tech stocks, especially AI concept stocks. The Nasdaq index fell more than 1% in a single day, directly dragging down the risk appetite of the crypto market. Market data shows that the global cryptocurrency liquidation scale reached an astonishing $430 million within 24 hours, with long positions suffering heavy losses. In just one hour of rapid price decline, $150 million in long positions were forced to close. Such levels of liquidation often create a chain reaction, exacerbating price volatility. Currently, Bitcoin is quoted at $90,260, which, although rebounding from the low point, still shows a 24-hour decline of 2.32%. From a technical indicator perspective, Bitcoin's 1-hour RSI fell to 38.73, indicating a weak zone, while the 4-hour RSI hovers at 44.91, showing a neutral to bearish market momentum. The MACD indicator at the 1-hour level shows a value of -401.44, with the signal line at -316.85 and the histogram at -84.59, reflecting that a short-term bearish divergence is forming. The price is currently running in the lower band area of the Bollinger Bands, with the upper band at 93,271, the middle band at 91,092, and the lower band at 88,913. The current price is below the 12-period and 26-period exponential moving averages, suggesting short-term trend pressure. In the futures market, the total Bitcoin contract position is $58.41 billion, having decreased by 2.18% in the past 24 hours, indicating that some leveraged funds have chosen to withdraw and observe. Binance's funding rate remains at a positive level of 0.004151%, indicating that the market overall still has a certain bullish tendency, but the enthusiasm has clearly cooled. The options market has a position of $52.49 billion, decreasing by 3.61% in 24 hours, with institutional investor hedging demand on the rise. From a macro perspective, the Federal Reserve has just implemented an interest rate adjustment, but Bitcoin has not rebounded significantly as the market expected. Instead, it is under pressure due to volatility transmitted from traditional financial markets, indicating that the current cryptocurrency market remains closely correlated with the macro economy. Investors need to closely monitor the trends of U.S. stocks, especially tech stocks, while also being vigilant about the gains and losses around the $90,000 level. This position has become a key area for intense competition between bulls and bears. If it can be effectively defended and stabilized, a technical rebound may be expected; otherwise, it may further test the support range of $88,000 to $85,000.