Bitcoin plummeted, falling below $90,000 after failing to break through the key resistance range of $92,000 to $94,000. Over $200 million in leveraged long positions were liquidated, accelerating the downward trend. Currently, support is at $89,200 and $88,000. Analyst Ash Crypto pointed out that Bitcoin is still down about 29% from its peak, forming a sharp contrast with the rise in U.S. stocks. He believes that large institutions may be influencing the market, as despite massive daily liquidations, Bitcoin still struggles to rebound.