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JUST IN: Bitcoin Rejects $90,000 as "Tariff Relief" Rally Fails to Hold.
The weekend bounce was a trap. Despite the revocation of the U.S.-Greenland tariffs, Bitcoin has failed to sustain momentum above psychological resistance and is currently trading back at $88,455. The "Extreme Fear" sentiment (Index 34) is overriding the geopolitical relief.
This matters because the market structure is weakening.
We are seeing a "spot demand void." Open Interest has dropped to $27.9 billion, signaling that institutions are de-risking rather than accumulating at these levels. With the $90,200 moving average acting as a ceiling, the path of least resistance is now testing the critical $85,600 support floor.
Traders should stop chasing "news candles" and watch the volume. Unless we reclaim $94,000 with conviction, this is a capital preservation environment, not a "buy the dip" zone.
#Bitcoin #MarketUpdate #CryptoNews