According to The Crypto Basic, Bitcoin fell below $90,000 on Tuesday, its lowest level since April, erasing year-to-date gains. The decline followed a $19 billion liquidation of leveraged positions on October 10 and comes within the 400 to 600-day window after the April 2024 halving. Analysts at The Kobeissi Letter noted that Bitcoin has historically seen deep pullbacks, with every similar downturn eventually leading to new highs. Industry leaders like Cameron Winklevoss, Tom Lee, and Matt Hougan suggested the sell-off may be nearing its end, with Bitcoin potentially finding a bottom this week. The downturn has also affected major altcoins, with Ethereum and Solana falling 23% and 27.3% respectively over the past month.
Bitcoin Dips to $89K, Industry Leaders Eye Bottom This Week
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