Bitcoin price has retraced below the $90,000 mark, trading around $89,888. The downward movement has triggered negative sentiment among traders observing the short-term price action on exchanges. This dip comes despite strength in traditional US equities, highlighting a temporary decoupling of crypto assets from rallying traditional markets. Analysts attribute the sharp decline to a leverage washout rather than immediate negative news. The drop triggered $200 million in liquidations within four hours, with Ethereum also falling below the $3,000 support level. [Update 1] Recent price action has seen Bitcoin retrace to the $90,000 level, erasing gains in a move traders are describing as a "Simpsons" chart pattern. Market participants note the drop involved vertical selling pressure likely driven by derivative liquidations. Despite earlier soft inflation data hinting at stability, sentiment remains mixed as traders weigh the crypto correction against strengthening performance in traditional equity markets.