Bitcoin fell below the $90,000 mark on Tuesday, dropping 6 percent to $88,333.09.
The cryptocurrency briefly touched $85,899.99, its lowest point since November, placing it nearly 20 percent below its all-time high reached on US President Donald Trump’s inauguration day.
The decline coincides with pressure in equity markets, where the S&P 500 recorded a four-day losing streak as investors considered concerns about economic growth and global trade.
Crypto market tumbles as Bitcoin falls to $88,333 amid equity sell-off
Bitcoin began 2025 with strong momentum, driven by expectations about the Trump administration’s crypto-friendly policies.
However, since Trump issued his executive order on cryptocurrency in late January, the market has lacked direction despite the industry’s positive reception of the order’s contents.
The $90,000 level represents the bottom of bitcoin’s trading range since late November. Analysts warn that a significant break below this threshold could lead to further declines toward $80,000, according to a report by CNBC.
Other cryptocurrencies also experienced declines, with ether and Solana’s sol token dropping 6 percent and 4 percent respectively.
The meme coin sector fell 13 percent over 24 hours according to CoinGecko, with Libra tumbling 19.7 percent and the Trump meme coin sliding 8.7 percent.
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