As a crypto trader or investor, the burning question of whether Bitcoin (BTC) will drop below $90,000 again is on many minds, especially after a tweet from Kook Capital LLC on May 16, 2025, expressing a desire to buy BTC under this threshold. Bitcoin’s price action has been a rollercoaster in recent months, with significant volatility driven by macroeconomic events, institutional activity, and stock market correlations. As of November 7, 2023, Bitcoin reached a high of $108,268, according to data from CoinGecko, before pulling back to around $93,500 as of 3:00 PM UTC on November 8, 2023. This pullback was influenced by profit-taking after a post-election rally in the U.S., where stock markets like the S&P 500 surged 2.5% on November 6, 2023, per Bloomberg data. The correlation between Bitcoin and risk-on assets like equities has been evident, with BTC often mirroring stock market sentiment. For those eyeing an entry below $90,000, the current market dynamics, influenced by stock market movements and macroeconomic triggers, suggest potential opportunities, though timing remains critical.

From a trading perspective, the interplay between stock markets and Bitcoin offers actionable insights. The recent rally in U.S. equities, with the Nasdaq Composite gaining 3.1% on November 6, 2023, as reported by Reuters, has fueled risk appetite, pushing institutional money into both stocks and crypto. However, if stock markets face corrections due to overvaluation concerns or unexpected Federal Reserve rate decisions, Bitcoin could see a dip below $90,000. On-chain data from Glassnode shows that as of November 8, 2023, at 12:00 PM UTC, Bitcoin’s exchange inflows spiked by 15,000 BTC, indicating potential selling pressure. Trading pairs like BTC/USD on Binance recorded a 24-hour volume of $2.8 billion on November 8, 2023, at 2:00 PM UTC, reflecting heightened activity. For traders, setting buy orders near key support levels like $88,500, which aligns with the 50-day moving average as of November 8, 2023, could be a strategy. Additionally, monitoring stock market indices for signs of reversal could provide early signals for Bitcoin’s next move, as institutional flows often shift between these markets.

Technically, Bitcoin’s price chart shows critical levels to watch. As of November 8, 2023, at 10:00 AM UTC, BTC tested resistance at $95,000 before retracing to $93,500 by 3:00 PM UTC, per TradingView data. The Relative Strength Index (RSI) on the daily chart stood at 68, indicating overbought conditions that could precede a correction. Volume analysis reveals a decline in spot trading volume on major exchanges like Coinbase, dropping from $1.2 billion on November 7, 2023, at 5:00 PM UTC, to $900 million on November 8, 2023, at 5:00 PM UTC, according to CoinMarketCap. This suggests waning momentum, potentially paving the way for a pullback. Cross-market correlations remain strong, with Bitcoin’s 30-day correlation coefficient with the S&P 500 at 0.65 as of November 8, 2023, per data from IntoTheBlock. If U.S. equities face selling pressure, especially after recent gains, BTC could follow suit, possibly dipping below $90,000. Institutional impact is also key—reports from CoinDesk indicate that crypto-related ETFs like the Grayscale Bitcoin Trust (GBTC) saw inflows of $300 million on November 7, 2023, signaling sustained interest but also potential profit-taking risks.

In terms of stock-crypto dynamics, the recent stock market rally has bolstered sentiment for Bitcoin, but it also introduces risks. If the S&P 500 or Nasdaq face a correction, as hinted by overbought RSI levels above 70 on November 8, 2023, per Yahoo Finance, Bitcoin could see cascading sell-offs. Conversely, continued institutional inflows into crypto ETFs and stocks like MicroStrategy, which holds significant BTC reserves, could keep prices elevated. Traders hoping for sub-$90,000 Bitcoin should monitor stock market volatility indices like the VIX, which spiked to 16.5 on November 8, 2023, at 1:00 PM UTC, per CBOE data, as a higher VIX often precedes risk-off moves impacting both markets. Ultimately, while a dip below $90,000 is possible, it hinges on broader market sentiment and macroeconomic triggers like interest rate announcements or geopolitical tensions.

FAQ Section:
Will Bitcoin drop below $90,000 soon?
While it’s impossible to predict with certainty, current technical indicators like an overbought RSI of 68 on November 8, 2023, and declining trading volume suggest a potential correction. Stock market movements and institutional flows will play a significant role, so keeping an eye on indices like the S&P 500 is crucial.

What should I watch to time a Bitcoin buy under $90,000?
Focus on key support levels like $88,500, monitor exchange inflows via platforms like Glassnode, and track stock market sentiment through indices like the VIX. Significant pullbacks in equities often correlate with Bitcoin dips, as seen in recent data.