Bitcoin Updates: El Salvador Continues Aggressive Bitcoin Purchases Despite Market Turmoil as BTC Falls Under $90K
- Bitcoin fell below $90,000 for first time in seven months amid macroeconomic uncertainty, profit-taking, and leveraged long liquidations. - $19B in leveraged longs liquidated triggered cascading losses, while the Fear & Greed Index hit "extreme fear" levels at 10. - El Salvador defied market panic by purchasing $101M BTC weekly, expanding reserves to 7,474.37 BTC under President Bukele's policy. - Institutional views remain split: Strategy denied selling holdings, but ETF outflows removed $870M in redemp
Bitcoin Drops Below $90,000 Amidst Market Turbulence
For the first time in seven months, Bitcoin (BTC) slipped under the $90,000 mark, trading at $90,883.94 late Tuesday,
The selloff intensified after $19 billion in leveraged long positions were wiped out, leading to further cascading losses
Institutional sentiment remains divided. Strategy, a publicly listed Bitcoin company,
The broader digital asset market is also under pressure.
Meanwhile, the stablecoin market keeps expanding, with clearer regulations in the U.S. and Europe
As Bitcoin faces ongoing macroeconomic challenges, its future direction is still unclear. A move back above the 365-day moving average could ease selling, but continued weakness may deepen the decline. For now, the market is watching for renewed institutional interest and liquidity shifts that could mark a reversal
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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