Bitcoin slipped back under $89,000 after a short-lived rally, showing that the market is still weak even though stocks were rising.

Here’s what’s happening in simple terms:

Bitcoin dropped to around $88,500, down about 1.5% in a day.

Ethereum also fell below $3,000, losing around 2.5%.

Crypto-related stocks like Hut 8, Galaxy Digital, and others were also down, even while the Nasdaq was up.

One market expert said many traders believe crypto could stay bearish until around September. The reason? Investors think U.S. interest-rate cuts may only come after a change in Federal Reserve leadership and those policy shifts take time to help risky assets like crypto.

Still, there are small positive signs. Some investors are quietly taking on more risk, which can be seen in rising interest in MicroStrategy shares compared to Bitcoin ETFs. This suggests a group of traders is still betting aggressively on Bitcoin’s long-term future.

Bottom line:

Bitcoin is struggling to hold key levels, the mood is cautious, but a few signals show not everyone has given up on a rebound yet. 📉➡️📈