Even $90,000 Breaks... Bitcoin Falls Below Mark for First Time in Seven Months

[Financial News] Bitcoin (BTC), the leading cryptocurrency, continued its decline and fell below the $90,000 threshold for the first time in seven months.

According to foreign media such as Reuters and Forbes, BTC plunged 5.83% to $89,931 at 12:30 p.m. on the 18th. Although it has since recovered above $90,000, BTC remains on a downward trend.

This is the first time in seven months that BTC has fallen below $90,000 since it plummeted to $74,400 on April 21 amid uncertainty over U.S. tariff policies.
International media have offered various analyses on BTC's sharp decline. Reuters interpreted the drop as a sign that investors are becoming less willing to take risks on cryptocurrencies.

Recently, a series of hawkish remarks from Federal Reserve System (Fed) officials have dampened expectations for an additional rate cut in December. As the stock market has also retreated from recent highs, investor sentiment appears to have weakened.

Joe DiPasquale, CEO of the cryptocurrency hedge fund Bitbull Capital, told Forbes, "The decline in BTC is the result of a combination of profit-taking, reduced liquidity, and macroeconomic pressures." He added, "Long-term holders began selling after BTC hit an all-time high, which led to a significant influx of supply back into the market."

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