Bitcoin fell below the $90,000 mark for the first time in more than a week on Tuesday as a broader global market selloff intensified amid rising geopolitical tensions.
The world’s largest cryptocurrency dropped as much as 4% before extending losses into Wednesday’s Asian trading session, slipping 0.5% to $88,894 by 9:27 a.m. in Singapore. The decline mirrored losses across global equities, long-dated US Treasuries and Japanese government bonds as investors reduced exposure to risk assets.
Market analysts said the $90,000 level had been a key technical support for Bitcoin in recent weeks.
“Ninety thousand has proven to be a critical level that we’ve seen hold as support since the early days of the year and is likely an important inflection point in the short term,” said Karim Dandashy of Flowdesk.
Losses were steeper across smaller digital assets, with Ether sliding more than 7% and Solana falling 5.3%. Crypto-linked equities also came under pressure, as Coinbase Global Inc. dropped 5.6% and Strategy Inc. declined nearly 8%.
Analysts linked the selloff to broader macroeconomic and geopolitical concerns, including renewed US tariff threats and tensions surrounding Greenland.
“Bitcoin’s sharp drop over the weekend mirrors a broader exodus from risk assets,” said Shiliang Tang of Monarq Asset Management.
Meanwhile, Japanese bond yields rose sharply after election-related tax cut pledges reignited fiscal sustainability concerns. Despite the market downturn, institutional interest in Bitcoin remained evident after Strategy announced a $2.13 billion Bitcoin purchase, its largest since July.
“Strategy’s largest purchase in seven months suggests there’s still significant retail and institutional appetite for Bitcoin exposure through equity wrappers,” said Jake Ostrovskis of Wintermute.
