Bitcoin broke support and fell below 90 thousand dollars.

Recent Developments in Bitcoin

Bitcoin has experienced significant value loss amid rising geopolitical tensions and concerns over trade wars. Falling below the $90,000 level, Bitcoin is trading in a market environment marked by a risk-averse sentiment. Particularly, the U.S. government's insistence on control over Greenland has created distressing signs that trade wars could reignite.

Impact on Global Markets

The increasing risk perception in global markets has led to sharp sell-offs in the stock and bond markets. Cryptocurrencies have emerged as some of the most affected assets in this negative atmosphere. The unexpected withdrawal of support by a key market player, Coinbase, for the Clarity Act bill which was suspended last weekend, has added extra pressure to the crypto market.

Expert Opinions

Russell Thompson, the investment director at Hilbert Group specializing in digital assets, stated, “President Trump's threat to impose tariffs on Europe has pressured Bitcoin.” He emphasized that the postponement of the Clarity Act in the Senate committee is essentially related to Coinbase’s concerns, adding, “This situation has largely eradicated the positive atmosphere in the market.”

Financial strategist Beto Aparicio from Offchain Labs noted that despite the continued short-term volatility, Bitcoin's reactions indicate an increasing integration with broader macroeconomic forces, suggesting that crypto assets are progressing towards maturity.

Current Cryptocurrency Market Status

As of 10:40, Bitcoin was trading at $89,226 with a 0.42% loss. Ethereum fell 0.47% to $2,967, while Ripple (XRP) saw a 0.17% decline to $1.91. Among other significant cryptocurrencies, Solana (SOL) recorded a 0.31% drop to $127.90, and Dogecoin (DOGE) found buyers at $0.1250 with a 0.21% decrease.