BTC hits 3-month low, below $90,000

• Bitcoin drops below $90,000
•  
• Bybit hack results in $1.5 billion Ethereum theft
•  
• U.S. tech stocks experience continued sell-off
•  
• Strategy increases Bitcoin holdings to 499,096 BTC

Bitcoin has experienced a significant decline, falling below the $90,000 mark for the first time since January 13.

This decline comes amid heightened geopolitical concerns and economic uncertainties related to US trade policy.

In addition, a major security breach at crypto exchange Bybit resulted in the theft of approximately

$1.5 billion, mostly in Ethereum, raising concerns about the security of digital assets and negatively impacting market sentiment.

The broader market sell-off, particularly in U.S. technology stocks, has also contributed to risk-off sentiment, with the Nasdaq 100 (NAS100) falling for the third consecutive day.

Despite these challenges, some institutional investors may remain bullish on bitcoin's long-term value. Strategy, formerly known as MicroStrategy, has increased its bitcoin holdings by acquiring nearly 2 billion worth of the cryptocurrency, bringing its total reserves to 499,096 bitcoins.