#crypto crashing

The bitcoin faithful are turning to one of their most vocal evangelists for a sign amid an intensifying market rout. His message? HODL.

We're talking about Michael Saylor, chief of Strategy (MSTR), the enterprise software company known for stockpiling bitcoin. The price of the world's most valuable cryptocurrency has been falling lately, and rumors broke out on social media that the company was selling amid the slide. Saylor dismissed those rumors, but the notion that latched onto the possibility that the man who might be bitcoin's best-known bull was turning tail shows the negativity radiating from the market at present.1

As X users started to fret, Saylor posted an image of himself on a life raft as a burning ship sank behind him. "HODL," he said, using an acronym for "hold on for dear life."2

Bitcoin’s decline accelerated Thursday, with the price slipping to a six-month low before stabilizing near $87,491, yet traders increasingly expect a sharp upside squeeze toward the $98,000–$100,000 liquidity pocket.

Despite bearish technical signals, market participants say a reclaim of key resistance zones could trigger a momentum reversal — though the burden remains squarely on the bulls.

Key Takeaways

Bitcoin is struggling to hold the $90,000 level, dropping to a six-month low of $88,267.

Traders eye short liquidity between $98,000–$100,000, which could fuel a sharp squeeze.

BTC lost major long-term support, including the 50-week EMA near $100,000 and the yearly open at $93,300.

Analysts warn that $94K, $97K, and $98.5K are the critical levels to reclaim before sentiment turns bullish again.