The cryptocurrency appeared to be foreshadowing a decline in stocks.

"In the short-term … a sustained break of the $90,000 level could usher in more selling pressure and bearish momentum," one analyst said.

The cryptocurrency appeared to be foreshadowing a decline in stocks.

Bitcoin has steadied after falling below $90,000 on Tuesday, but the leading cryptocurrency could see more medium-term losses, Katie Stockton told CNBC.

The dip comes amid doubts on future interest rate cuts by the US Federal Reserve.

Bitcoin plummets to below $90K for the first time since April

Bitcoin dropped on Thursday to levels not seen in more than six months.

Bitcoin’s month-long selloff has wiped a large portion of the gains it made since November last year, after President Donald Trump’s election win.