There are still no any significant drivers or triggers behind the move which looks rather technical than fundamental. Nevertheless, at this stage, the BTCUSD is entering a danger zone as a more sustainable movement below $9,000 will open the way to deeper correction before buyers get into the game.
Should the cryptocurrency lose this important level, we will see a dip to $8,800 where the 100-DMA lies. A break below may trigger a slide to $8,500 and even lower. In the short term, the digital currency will likely make fresh attempts to remain above the $9,000 area. However, buyers will likely wait for more attractive levels to come back.