Crypto markets extended their retreat today as the Bitcoin price hovered near a seven-month low at $88,890 — down 4% on the day and trading near the bottom of its weekly range.
Bitcoin price is struggling to hold $93,000 as thin liquidity, leverage-driven volatility, and a critical break in market structure fuel one of the most bearish stretches of the 2025 cycle.
Bitcoin price briefly fell below $90,000 overnight before rebounding to the $94,000 range, trading near its weekly high, with over 19.95 million BTC mined — exceeding 95% of its 21 million supply.
Bitcoin closed the week at $94,290, breaching the critical $96,000 support and wiping out all 2025 gains, as ETF outflows and macro fears drive extreme fear in the crypto market.
Bitcoin price plunged to the $102,000s on Tuesday after briefly topping $107,000, retreating despite initial gains from government reopening news and potential tariff checks, as mixed market sentiment weighed on Bitcoin.
A weekend rally lifted Bitcoin to $104,700, reclaiming the $104,000 support zone while the 0.382 Fibonacci retracement at $109,400 cap near-term upside.
The $106,900 Fibonacci support level provided a bounce last week, but repeated tests raise risks of a drop to $100,000 and long-term support at $96,000.
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