Bitcoin has seen a significant drop in value today, now trading around $89,000, marking the first time in months that it has fallen below $90,000. This comes after a strong rally where Bitcoin was approaching $110,000, fueled by optimism surrounding regulatory shifts and institutional adoption.

The current crypto downturn is largely driven by macroeconomic uncertainties, including interest rate concerns, regulatory pressures, and a broader market sell-off. Global stock markets have also taken a hit, reflecting investor caution amid economic volatility.

Alongside Bitcoin, other major cryptocurrencies like Ethereum, Solana, and Cardano have also suffered losses, signaling a broader market correction in the digital asset space. As investors navigate these fluctuations, all eyes are on whether Bitcoin can regain momentum or if further declines are on the horizon.