Bitcoin is under pressure as bearish signals grow and traders turn cautious. The world’s largest cryptocurrency is slipping amid weak momentum and a broader risk-off mood in global markets.
Bitcoin is trading near $90,658 after falling below $92,000 earlier in the session. The $90,000 level has become the key support to watch. Traders see it as a line that could either stabilize the price or open the door to further losses.
The pullback comes as markets react to macro uncertainty, including concerns around U.S. trade policy and tariffs. Short-term support levels have broken, suggesting buyers are losing control for now.
Veteran trader Peter Brandt has added to the bearish tone. He warned that Bitcoin could fall to the $58,000–$62,000 range, pointing to a long-term rising wedge pattern. Brandt stressed that this is only a possibility and not a certainty, but his view has unsettled short-term traders.
On-chain data also shows signs of cooling momentum. CoinGlass’ Net Realized Profit and Loss (NRPL) metric has turned slightly negative after months of strong gains. This suggests profit-taking has slowed and buyers are less aggressive.
A recovery is still possible if Bitcoin can reclaim the $97,000–$98,000 resistance zone. A move above this range would signal renewed strength and could shift the trend back in favor of bulls.
For now, the risk remains but it is not guaranteed. If Bitcoin loses support between $90,000 and $91,000, the chance of a deeper pullback increases. The next few sessions are likely to shape Bitcoin’s short- to medium-term direction.
