Bitcoin experienced a slight dip this week, dropping from its peak of $110k to $103k. Renowned crypto trader DonAlt warns of a potential further decline. Could Bitcoin crash to $90k?
To prevent a further collapse, Bitcoin must stay above key support levels. Additionally, the trader is monitoring the MVRV ratio, which should not show further bearish shifts.
Currently, Bitcoin is trading at $105,000, recovering from a significant dip last Thursday when it fell to just above $100k. This level is now a crucial support zone. A break below could push Bitcoin to $90k.
Another trader, Ali Martinez, is watching the MVRV ratio, which dropped below its 200-day average before last Thursday's dip, often a precursor to further declines. The current MVRV ratio is 0.39, lower than before the dip, adding uncertainty.
Meanwhile, a new project, Bitcoin Hyper, aims to solve Bitcoin's slow transaction speeds with a layer-2 network, bundling transactions for faster processing.
