The cryptocurrency market experienced a significant decline, with the total market capitalization shrinking by 4.27% to $3.01 trillion. Bitcoin fell below the key support level of $90,000, with the trading price dropping to $89,208, invalidating its recent golden cross. Technical indicators such as the ADX declining and the RSI dropping to 41.7 all suggest a strong bearish momentum, with the next major support level around $80,600. Solana also followed the downward trend, falling 5.06% to $126.61, breaking below the 200-day moving average, with a risk of forming a "death cross." Market sentiment has become more optimistic, reducing the probability of Bitcoin rebounding to $100,000 to 72.5%.
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The cryptocurrency market experienced a significant decline, with the total market capitalization shrinking by 4.27% to $3.01 trillion. Bitcoin fell below the key support level of $90,000, with the trading price dropping to $89,208, invalidating its recent golden cross. Technical indicators such as the ADX declining and the RSI dropping to 41.7 all suggest a strong bearish momentum, with the next major support level around $80,600. Solana also followed the downward trend, falling 5.06% to $126.61, breaking below the 200-day moving average, with a risk of forming a "death cross." Market sentiment has become more optimistic, reducing the probability of Bitcoin rebounding to $100,000 to 72.5%.