Investors see $90,000 as a key support level for Bitcoin, and if it falls below that, it may further retrace to $80,000

ChainCatcher news, according to Marketwatch, after Trump announced tariffs on Canada, Mexico, and China, cryptocurrencies plummeted. Bitcoin fell below the critical $100,000 mark, hitting a three-week low of around $91,251.11 on Monday. Ethereum dropped about 25% at one point, reaching its lowest level since early September last year.

The specter of a global trade war has made investors anxious, leading them to flee risk assets. While many view Bitcoin as a long-term hedge against inflation and uncertainty, in the short term, it behaves more like a risk asset that may react negatively to any uncertainty surrounding the trade war.

On the other hand, analysts pointed out that the explosive success of China's low-cost AI model DeepSeek has also impacted cryptocurrencies, as it has broken the long-standing path dependence of "stacking computing power" in the global AI industry and shocked the U.S. AI sector, prompting investors to sell stocks of U.S. AI giants and cryptocurrency positions. Investors see $90,000 as a key support level for Bitcoin, with some warning that if Bitcoin falls significantly below this support level, it could further retrace to $80,000.