Bitcoin Bearish Sentiment Climbs as BTC Price Slips Under $89K

Bitcoin's failed attempt to recover above $90,000 has eroded investor confidence, sending bearish sentiment flying. Prediction market odds of Bitcoin falling to $69,000 have more than doubled in a week as BTC continues to trade below $90,000. The probability of a Bitcoin crash to $69,000 has grown from 11.6% last Thursday to 30% now, highlighting rising bearish sentiment. Geopolitical uncertainty and the influence of gold as a primary hedge have contributed to Bitcoin's choppy price action and lack of new capital.