Bitcoin fell below $90,000 on Tuesday, marking its lowest level in seven months and highlighting waning investor appetite for risk across global markets.

The cryptocurrency, known for its sensitivity to market sentiment, has wiped out all gains made in 2025 and is now nearly 30 per cent below its October peak above $126,000.

As of the Asia afternoon session, it was trading around $89,953, down 2 per cent, after breaking key support near $98,000 last week.

Market participants attributed the decline in crypto to uncertainty over future United States interest rate cuts and a shaky mood in broader markets, which have faltered after an extended rally.

“The cascading selloff is amplified by listed companies and institutions exiting their positions after piling in during ‍the rally, compounding contagion risks across the market,” said Joshua Chu, co-chair of the Hong Kong Web3 Association.

“When support thins and macro uncertainty rises, confidence can erode with remarkable speed.”

Crypto-related companies, including miners like Riot Platforms and Mara Holdings, as well as exchange Coinbase, have all fallen amid the souring market sentiment.

Markets across Asia also slipped on Tuesday, with technology stocks in Japan and South Korea coming under particular pressure.

Ether has also been under sustained pressure, falling nearly 40 per cent from its August peak above $4,955 to trade around $2,997, down 1 per cent on Tuesday.

Some analysts noted that Bitcoin’s decline earlier this year foreshadowed a wider equity selloff in April following U.S. tariff announcements, raising concerns that the current crypto slump could signal broader market turbulence.