Yesterday, Bitcoin experienced a significant decline, dropping directly to $91,000 at midday. In the evening, as the US stock market continued to weaken, it even briefly fell below the $90,000 psychological level, finally managing to stay above $90,000. Ethereum's situation is also not optimistic, currently barely holding above $3,000.

Looking at the BTC daily chart, it has already confirmed a return below the short-term downtrend line, which means there is a high probability of continued weakness in the short term. Whether it can hold the $90,000 psychological level has become a key support.

The direct cause of the sharp decline in US stocks points to the situation in Europe and America. Recently, due to territorial remarks by certain countries, relations between Europe and the US have rapidly deteriorated. Yesterday, a Danish pension fund publicly announced it would liquidate its US Treasury holdings by the end of the month. This signal ignited market concerns about a trade war. Investors began to fear that the global order might change, increasing uncertainty. As a result, US stocks plummeted at the open on Tuesday, and the cryptocurrency market naturally followed suit.

The problem is that Bitcoin is overly tied to US factors. As long as there is any movement in the US, the entire crypto market will fluctuate accordingly. Recent US policy news has been mostly bearish, and some aggressive measures have continuously stimulated market nerves, leading to the sell-off of risk assets. Meanwhile, safe-haven assets like gold and silver are hitting record highs. If this trend continues, there is a considerable chance that BTC will once again break through the $90,000 threshold.