Bitcoin fell below 88,000 dollars.

Bitcoin Volatility

Bitcoin reversed its gains during the Asian session, falling below the $88,000 level. This decline occurred alongside significant losses in major altcoins.

Relation with NASDAQ Futures

The drop coincides with a decline in NASDAQ futures contracts. This indicates a strong positive relationship between Bitcoin and NASDAQ.

Market Optimism Decreases

Traders are reflecting a cautious market mood by reducing short positions. This situation shows that the number of open positions in futures contracts has decreased.