Bitcoin has plunged to its lowest valuation in seven months, breaching the critical $90,000 threshold amid a deteriorating market landscape. The downturn is largely attributed to substantial capital outflows from Bitcoin exchange-traded funds (ETFs), which have hemorrhaged hundreds of millions in assets under management. Market analysts point to two primary catalysts driving the sell-off: widespread profit-taking by investors capitalizing on previous gains and strategic portfolio rebalancing by institutional holders adjusting their exposure. This corrective phase underscores the volatility inherent in digital asset markets even as adoption grows. While the price drop may unsettle short-term traders, many long-term proponents view such pullbacks as healthy consolidations within broader bull cycles. The market will closely monitor whether key support levels hold or if further downward pressure emerges in coming sessions.
