Bitcoin Drops Below $90,000 for the First Time Since April as Major Investors Pull Back

Bitcoin has taken a sharp hit, sliding below the $90,000 mark for the first time since late April 2023. Trading data shows the cryptocurrency lost roughly 6% over the past 24 hours.

As of about 11:35 p.m. Washington time, one bitcoin was trading at $89,700, its lowest level since April 22.

For context, on October 6 the cryptocurrency reached a record high of $126,251. But that surge was short-lived: just four days later, prices began tumbling after Donald Trump’s comments on tariffs rattled global markets.

Analysts point out that the latest downturn is tied to a steady pullback from big market participants. Over the past month, major buyers — including ETF distributors and corporate treasuries — have quietly stepped aside. Their retreat has removed a layer of support that helped push bitcoin to its earlier record highs.