Bitcoin could fall to $75,000 if $90,000 line collapses

The $92,000 line has collapsed, and Bitcoin is threatening to collapse to $90,000. According to a report citing cryptocurrency media CoinDesk, if the $90,000 line is reached,
If the instalment breaks down, some speculate it could fall to $75,000. CoinDesk reported that Joe Biden, founder of venture capital firm Asymmetric Capital,
The report quoted McCann as saying that if Bitcoin falls below $90,000, he predicted that the first support would be at $85,000 and the second support at $75,000.
After Trump was elected on November 5th of last year, Bitcoin hit a record high of $108,268 on December 17th of last year.
Since then, Bitcoin has seen the Trump effect weaken and the $100,000 line collapse.
The market has been bearish ever since it entered the market. This is because recent economic data has been strong and the likelihood of a Fed interest rate cut has greatly decreased.
Experts say the election of President Trump has increased inflationary pressures and the Fed is likely to remain stagnant for the time being.
The Federal Reserve Board also announced at its FOMC meeting last month that it would lower its interest rate forecast from four 0.25 percentage point cuts this year to two.
As of this time, Bitcoin was trading at $93,244, down 1.19% from 24 hours ago.
However, Bitcoin briefly fell to as low as $91,220, and was in danger of collapsing below $91,000.