Bitcoin Price Forecast: BTC Risks $90K Breakdown Amid Greenland Tariff Woes

Bitcoin (BTC) fell alongside US stock futures on Monday after President Donald Trump threatened tariffs on eight countries that resisted his plans to acquire Greenland.

The top cryptocurrency slipped by over 1.80% to below $91,920, invalidating an ascending triangle setup that had projected a price boom above $100,000 as of last week.

Nasdaq 100 contracts dropped 1.2% in the same period, while gold and silver rose, indicating a growing risk-off mood among investors.

“US markets closed today, so investors are expressing their macro positions through BTC,” noted analyst Nic, adding:

“If we fall below $90,000 before market open tomorrow, ETF holders may also start dumping.”

Bitcoin Rising Wedge Scenario Increases Bearish Odds

Bitcoin appeared to be carving out a rising wedge on the daily chart, a structure that often signals weakening upside momentum within corrective rebounds.

Price continued to print higher lows, but the slope of the advance remained shallow as BTC struggled to reclaim key moving averages clustered near the $95,000–$100,000 zone.

At the same time, the wedge formed beneath a declining trendline drawn from Bitcoin’s November peak, reinforcing overhead supply. Momentum indicators reflected the loss of strength, with RSI failing to push decisively above its mid-range despite repeated attempts.

If confirmed, a breakdown below the wedge’s lower trendline would have exposed BTC to a deeper pullback toward the $84,000–$80,000 support region. This area previously acted as a demand floor during the December sell-off.

Conversely, a bounce from the wedge’s lower trendline could enable a short-term rebound toward the upper trendline, aligning with the $99,780-100,000 area.

Traders must revisit the structure for a potential breakout above the upside zone, which would invalidate the breakdown setup altogether, instead rekindling the ascending triangle setup with the $107,000 breakout target.

Top Bitcoin Investor Cohorts Are Reducing Holdings

Entities holding more than 100,000 BTC, alongside the 10,000–100,000 BTC group, gradually reduced supply, signaling distribution into strength rather than renewed accumulation.

In contrast, wallets holding 1,000–10,000 BTC continued to increase their balances, suggesting dip-buying by mid-sized holders rather than broad-based conviction.

This imbalance mattered technically. The wedge developed beneath declining resistance while larger holders trimmed exposure, weakening upside follow-through.