$9,000: Bitcoin Breakdown Might Be The Real Deal As Altcoins Plunge

Bitcoin was rejected near the $10,500 area against the US Dollar. BTC could extend its decline as Ethereum and ripple are down more than 10%.Bitcoin price is under pressure below the $10,000 support area against the US Dollar.
The bears seem to be in control as the price even failed to stay above $9,800.
There is a short term declining channel forming with resistance near $9,900 on the hourly chart of the BTC/USD pair (data feed from Kraken).
Ethereum and ripple are gaining bearish momentum and