Bitcoin fell below $90,000 on Tuesday as traders panic-sold risk assets amid a meltdown in Japan’s government bond market. At the same time, U.S. President Donald Trump increased tariff threats against Europe. This is CoinDesk's markets liveblog. This liveblog will be updated regularly. Scroll down for the latest.
Coming full circle? (Aoyon Ashraf, 11:57 pm UTC):
CoinDesk's market team is monitoring if bitcoin falls below $87,586, the level at which the largest cryptocurrency started this year, with hopes of a bullish run. Below that, all the gains for this year will be gone, just a little less than three weeks into the year.
With bitcoin rising to the $96,000 level earlier this month, there were talks of it hitting $100,000 at one point. However, after today's brutal selloff, it seems like bears are again in control of the narrative. Earlier in the day, veteran trader Peter Brandt discussed the potential for the price to hit between $58,000 and $62,000 within two weeks. While that may sound the panic alarm for some, our colleague Omkar Godbole pointed out that there is a 30% chance bitcoin will fall below $80,000 by the end of June, according to options data.
And just for a sanity check, bitcoin is around $88,403, and ether is below $3,000,
