Bitcoin has fallen below 90,000. If this situation cannot be quickly pumped back, things might get a bit precarious later.

From a technical perspective, this breakout is not a good signal. The position at 88500 is holding a large amount of trapped chips - there are many stuck positions, which theoretically means the support will be very strong. For now, this second line of defense is still quite stable and should hold in the short term.

But here comes the problem: what if 88500 cannot hold? That would be a big problem. Once it breaks, panic will spread like a domino effect, heading straight towards the 75000 mark. By then, it won't be just a small pullback.

Let's see if this position can withstand the pressure. What the market fears most is a series of breakdowns, where one breakdown leads to a chain reaction.