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Bitcoin drops to a 3-month low below $90,000 in risk-off move

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The price of bitcoin fell 6% to $ 88,519 , according to Coin Metrics .

The decline puts the blue chip coin almost 20% off its all-time high reached on President Donald Trump 's inauguration day.

The $90,000 level marks the bottom of the narrow range bitcoin has been trading in since the end of November .