Bitcoin Price Crash to $90,000 Imminent If This Support Breaks

Amid strong selling pressure over the past week, Bitcoin price continues to flirt just under the crucial support of $115,000. BTC is trading at a crucial junction that can decide the next trajectory for the crypto giant.

If the bearish pressure continues, BTC price could test the crucial support at $111,000. Breaking under that level could lead to an imminent crash at $90,000.

Bitcoin Price Crash to $90,000 Coming?

Popular crypto analyst Ali Martinez cited the MVRV bands, stating that it’s important for BTC bulls to defend the $111,000 support. However, if it breaks, it could lead to another 20% correction from there all the way to $90,000. In his message on the X platform, Martine stated:

With US central bank governor Jerome Powell delaying the decision on Fed rate cuts, investors don’t expect any short-term liquidity boost. Top market players like Arthur Hayes predict a Bitcoin price drop to $100K.

Robert Kiyosaki on Bitcoin Price Crash to $90,000

Veteran investor Robert Kiyosaki has weighed in on recent market chatter surrounding a potential “Bitcoin August Curse”. Kiyosaki also tossed the possibility of a Bitcoin price crash to $90,000 this month.

In a post on X, Kiyosaki expressed hope for such a correction, indicating it would offer a strong buying opportunity. “I stand by to 2x my position today if Bitcoin crashes,” he wrote.

While sharing skepticism over Jerome Powell’s handling of monetary policy, Kiyosaki reiterated his long-term bullish stance on Bitcoin. He also referred to America’s multitrillion-dollar debt and “incompetent PhDs” at the Fed and Treasury as the true systemic risks.

Despite his short-term bearish hopes, Kiyosaki concluded that any August dip would ultimately benefit long-term Bitcoin investors. The veteran investor has been a Bitcoin bull for a long time. He has also advised investors to accumulate it along with other assets like Gold and Silver.

However, Kiyosaki advises having Bitcoin self-custody, instead of investing in Bitcoin ETFs, calling them paper money.

On-Chain Data Highlights BTC Strength

Popular crypto analyst Ali Martinez also pointed out that investor sentiment toward Bitcoin (BTC) has cooled significantly over the past month. The market has moved from a phase of “Extreme Greed” to a more measured “Neutral” stance.

Martinez noted that, historically, the most favorable buying opportunities have occurred during periods of “Extreme Fear.” He believes that current conditions may still be early in the cycle for optimal entry points.

According to blockchain analytics firm Glassnode, Bitcoin’s price range between $109,000 and $116,000 is gradually being filled during market dips. This highlights a staircase accumulation pattern, hinting at steady investor sentiment over the past month.

Glassnode also observed minimal distribution activity in the $118,000 to $120,000 zone. This shows holders in his range are largely refraining from selling.

Crypto analyst Captain Faibik noted on Tuesday that Bitcoin bulls have once again failed to decisively clear the $115,000 resistance level. However, a fresh attempt to reclaim this level is now underway.

Crypto analyst Faibik noted that if Bitcoin price breaks above $115,000, the next immediate target is $117,000. A confirmed breakout above that level would signal the start of a new bullish phase.