Bitcoin Drops Below $90K After U.S. PCE Data, Sparking Broad Altcoin Sell-off
Bitcoin failed to hold the $92K–$94K resistance and fell from around $91K to about $88K after the U.S. PCE and core PCE inflation releases, briefly dipping below $90,000. The move triggered roughly $500 million in liquidations and erased about $60 billion from total crypto market value within 24 hours, lowering total market capitalization to roughly $3.13 trillion. Bitcoin market cap declined to about $1.8 trillion while BTC dominance stayed above 57%. Major altcoins retreated: ETH fell ~3.4% and hovered near $3,000; XRP approached $2.00; SOL, ADA, LINK, DOGE and XLM dropped up to ~5%; SUI, ENA, PEPE, UNI and DOT fell about 6–7%; ZEC and CC posted double-digit losses. TRX and BCH showed small gains. The reports note that U.S. macro data and regulatory developments (for example, adjustments around Coinbase staking products) amplified volatility in an already fragile market structure. Near-term direction depends on whether Bitcoin can reclaim the $90K level and forthcoming U.S. economic releases, which will likely drive further volatility and liquidation risk.
Bearish
The news points to a clear short-term negative impact on Bitcoin price. BTC failed to sustain the $92K–$94K resistance and dropped below $90K after the U.S. PCE and core PCE releases, triggering sizable liquidations (~$500M) and a sharp market-cap contraction (~$60B). These are classic signs of downside pressure: macroeconomic surprise (or hawkish inflation signal) prompted risk-off flows, leveraged positions were squeezed, and correlated altcoins experienced broad losses. BTC dominance remained above 57%, reflecting a flight to the leading crypto but not enough to stop the price decline. Near-term, if BTC cannot reclaim $90K quickly, further selling and additional liquidation cascades are probable, especially around upcoming U.S. data releases that can shift risk sentiment. Over the medium to long term, the impact depends on macro trajectory and regulatory clarity; a series of hawkish inflation prints or adverse regulatory moves would prolong bearish conditions, while a quick stabilization above $90K and easing macro prints could restore confidence. For traders, the immediate implication is elevated volatility, heightened liquidation risk for leveraged positions, and the need for tighter risk management and watch of macro calendar and exchange/regulatory updates.