Bitcoin crashes below $90K as parabolic trendline collapses after 2022 rally
Bitcoin has fallen sharply, dropping below $90,000 after failing to hold above key price levels. The decline follows a rejection near major Fibonacci resistance points and the break of a long-term parabolic trendline that had supported its rally since 2022.
The latest drop began when Bitcoin struggled to maintain momentum above $102,030 and $122,446, two critical Fibonacci retracement levels. After failing to break higher, the Bitcoin price slid, breaking below a key parabolic trendline that had underpinned its upward move since 2022. The breakdown accelerated selling pressure, pushing Bitcoin under $90,000.
Bitcoin’s steep decline and oversold RSI reading have put traders on alert for a possible rebound. At the same time, its shrinking Bitcoin market dominance suggests growing interest in altcoins.
