Bitcoin’s Wild Ride: Is $90K the New Hot Mess? 🤔💸

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So, Bitcoin (BTC) just took a nosedive from $93,700 to $89,250 in less time than it takes to brew a cup of coffee. I mean, come on! Half of yesterday’s gains? Talk about a dramatic exit! Traders must be panicking like they just saw a rat in a fancy restaurant. And what’s the deal with the S&P 500 futures dropping 1%? Thanks, China, for the lovely surprise of retaliatory measures against the U.S. tariffs. Just what we needed, right?

But hey, don’t count Bitcoin out just yet! It’s still got a shot at reclaiming that $90,000 support. Remember when Trump said Bitcoin and Ether (ETH) would be the stars of the U.S. digital asset reserves? Yeah, that was a real confidence booster. And he’s got a big reveal coming up at the first government crypto summit on March 7. Can’t wait for that circus! 🎪

So, what caused this price drop? Oh, just the usual excessive expectations from Trump’s weekend tweets. Investors woke up and realized that getting anything approved in Congress is like trying to get a cat to take a bath. Good luck with that! And let’s not forget the lingering doubts about whether this plan even involves buying any actual cryptocurrencies. Spoiler alert: it probably doesn’t.

Aurelie Barthere from Nansen saw this coming. She knew that Bitcoin’s weekend rally to $94,500 was about as sustainable as a paper umbrella in a rainstorm. A 21% surge from $78,300? Exaggerated much? Especially with the global tariff war and all that economic uncertainty hanging over us like a dark cloud. ☁️

China’s Tariff Retaliation: A Recipe for Economic Disaster? 🍜

where’s the money coming from? Spoiler: probably from pausing government crypto sales, which won’t do much for prices. Fantastic!

Oh, and let’s talk about Michael Saylor. He announced that Strategy (formerly MicroStrategy) didn’t buy any new shares or increase its BTC holdings beyond 499,096 last week. Traders were expecting them to “buy the dip.” Surprise! They didn’t. Shocking, right?

Crypto trader RunnerXBT is pulling his hair out over Strategy’s $2 billion Bitcoin purchase at an average price of $97,500 while doing nothing as BTC plummets to the $80,000 range. His analysis? Those purchases above $95,000 could be a net negative for the market. Just great! Thanks for the heads up!

Despite all this doom and gloom, Bitcoin might just reclaim that $90,000 support. Why? Because Strategy is expected to keep accumulating BTC through its $42 billion debt and stock issuance plan. Michael Saylor doesn’t seem to care about timing the market. He’s just going to keep buying, come hell or high water.

As for the strategic crypto reserves? Who knows when that’ll happen? But long-term, it’s probably good for Bitcoin. BTC thrives when investors think the stock market is overvalued or when real estate is about to crash. So, the chances of Bitcoin hitting $95,000 soon? Pretty high, folks!

This article is just for fun and should not be taken as legal or investment advice. The views expressed here are solely the author’s and do not reflect the opinions of CryptoMoon. But hey,

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2025-03-03 22:32