Analysis: Bitcoin falls below $90,000; institutional investors are the market makers of the sell-off.

Golden Finance reported that Bitcoin fell below the $90,000 mark to a new local low on Monday evening Eastern Time, reaching its lowest level in seven months. “Bitcoin broke below the $90,000 threshold during today's trading session, and the breach of this important psychological barrier highlights the current market's fragility,” said Rachael Lucas, a cryptocurrency analyst at BTC Markets. “Institutional investors are the market makers in this selling, and the outflow of ETF funds indicates that investors are taking profits and adopting hedging positions before the end of the year.” “The long-term value of Bitcoin as digital gold has not changed, but the short-term selling from traders and leveraged players, as well as funds adjusting their holdings, are putting pressure on the price,” said Vincent Liu, Chief Investment Officer of Kronos Research. “The drop of Bitcoin below $90,000 is a short-term pullback, with $85,000 to $87,000 being the recent support range,” Liu stated. “Recovering the $90,000 mark is crucial for buyers to rebuild confidence, especially considering that the current Fear and Greed Index is only at 11, reflecting a generally low market sentiment.”