Bitcoin Price Slumps to $89,900 as Fear, Caution Grip Crypto Market

Bitcoin's price dropped to around $89,941 (roughly Rs. 79.7 lakh) on Tuesday as the broader crypto market entered a deeper risk-off phase amidst panic-driven selling and rapidly deteriorating liquidity conditions. The decline follows a severe weekend rout that erased year-to-date gains and pushed Bitcoin below several key psychological levels. According to analysts, the market is digesting overstretched sentiment, heavy ETF outflows, and sustained institutional unwinding. Ethereum (ETH) slipped to $3,004 (roughly Rs. 2.66 lakh), extending its week-long weakness. According to the Gadgets 360 price tracker, Bitcoin is priced around Rs. 79.2 lakh in India, while Ethereum trades at roughly Rs. 2.6 lakh.

Altcoin Losses Deepen as Market Volatility Intensifies

Altcoins extended their declines as liquidity pressures mounted across major tokens. Solana (SOL) fell 3.2 percent to $135 (roughly Rs. 12,000), XRP dropped 4.1 percent to $2.15 (roughly Rs. 190), and Binance Coin (BNB) slipped 2.7 percent to $907 (roughly Rs. 80,400). Dogecoin (DOGE) also retreated 3.9 percent to $0.15 (roughly Rs. 13.70).

Vikram Subburaj, CEO of Giottus.com, said the latest market slide reflects the culmination of several stress points across global and crypto-native systems. “Despite heavy losses, on-chain indicators such as realised losses and short-term holder capitulation suggest the market may be entering a late-stage correction phase rather than a structural bear reversal [...] Strong US manufacturing data and fading expectations of a December US Fed rate cut have tightened financial conditions [...] Read this as a late-stage correction, not a broken structure.”

Riya Sehgal, Research Analyst at Delta Exchange, said panic-driven liquidations are accelerating market weakness. “The correction is being amplified by ETF outflows and institutional profit-taking, notably by large players such as BlackRock [...] BTC futures flipping below spot for the first time since March 2025 highlights growing risk aversion. Technically, Bitcoin is testing the $89,000–$91,000 (roughly Rs. 78.9 lakh–Rs. 80.7 lakh) support zone.”

The CoinDCX Research Team said the downturn confirms the beginning of a bearish cycle.
“The crypto winter has begun as the Bitcoin price marked an intraday low of around $90,250 (roughly Rs. 79.99 lakh), levels not visited since April. With this, the Ethereum price also lost the strongly held support at $3,000 (roughly Rs. 2.66 lakh), confirming the beginning of a bearish phase [...] On the other hand, four XRP spot ETFs are expected to launch this week, with three more in the next 21 days, which is expected to keep the price stable amidst the volatility.”

Market sentiment remains deeply fragile, and analysts say that Bitcoin's ability to defend the $90,000–$92,000 (roughly Rs. 79.8 lakh–Rs. 81.5 lakh) support band will determine whether the market stabilises or extends its decline. 

With liquidity thinning, ETF outflows rising, and institutional leverage resetting, traders say fresh capital inflows and improvements in macro clarity will be essential for any sustained recovery attempt in the coming days.