The International Monetary Fund (IMF) has issued a fresh alert regarding stablecoins as Bitcoin’s price lingered at $90,000 at the market open before accelerating downward. For cryptocurrency enthusiasts, it marks yet another day of declines, overshadowing the early week’s fleeting optimism. Despite recent ETF launches, the excitement did not translate into gains for investors. The looming question now is: how low can Bitcoin 
$67,439 go?
The Future Price of Bitcoin
With tensions between China and the US resolving and AI bubble discussions winding down, Netflix is poised to make history with over a $70 billion investment in acquiring the largest media company. Meanwhile, the stock market holds steady, but Bitcoin experiences a day of inverse correlation with the stock exchange.
The prolonged struggle to breach resistance levels has become increasingly frustrating. Analyst Maartun draws attention to the increased activity surrounding Bitcoin’s price movements.
“Sequential 7% movements.” Bitcoin has recorded 7% daily changes for two consecutive days, experiencing one of its most volatile periods this year, in stark contrast to the more placid start of 2024.
This volatility is troubling as it does not favor the bulls. Bitcoin might soon break below $88,000, hovering at $88,700 during this article’s preparation.
Swissblock notes that buyers’ continuous hesitation undermines attempts at upward movements. At the time of their report, Bitcoin was still trading above $90,000.
“Bitcoin’s approach to the Annual Opening weakens spot demand. Every upward move is absorbed by sellers, while buyers’ hesitation keeps the price stable. Bitcoin must consolidate over $90,000 to rebuild its structure; otherwise, upward attempts will remain stalled. If $90,500-$91,500 is lost, $88,500 becomes the next pivotal point.”
Indeed, Bitcoin is hovering around this region now. A closure below these levels could lead to deeper local lows at $84,000 and $80,000.
Cryptocurrency Market Declines
With Bitcoin slipping below $90,000 again, altcoins are following suit with increased losses. The weekend appears bleak as Bitcoin enters with a downward trend. Meanwhile, President Trump, during this article’s composition, mentioned discussions with Canada and Mexico on tariffs, though there were no novel developments.
Washigorira shared an assessment prior to accelerating declines: “Bitcoin captured the previous weekly high but failed to surpass the Kijun. A retracement to the Tenkan level seems logical. This level is crucial for observation. If it breaks, the next support is around $83,900.”
Without swift recovery, Bitcoin’s next target could be $83,900.
