Bitcoin Faces Sharp Decline Amid Bearish Signals: What’s Next for BTC?
Bitcoin’s price has experienced a significant drop, falling below the $83,500 support level and consolidating losses. Currently trading under $81,200 and below the 100-hour Simple Moving Average (SMA), BTC has entered a bearish phase after breaking a key bullish trend line. This article explores the implications of this downturn and whether the selloff is just beginning.
Bitcoin Price Crashes Hard—Is The Selloff Just Getting Started?
Bitcoin price has started a fresh decline below the $83,500 zone and is consolidating losses. The price is trading below $81,200 and the 100 hourly Simple Moving Average (SMA). There was a break below a connecting bullish trend line with support at $83,000 on the hourly chart of the BTC/USD pair. BTC traded below the $83,000 and $82,000 levels to enter a bearish zone. The pair could start another increase if it clears the $80,500 zone.
Crypto Liquidations Skyrocket to $1 Billion Amid Market Crash
The cryptocurrency market experienced a widespread crash, with Bitcoin’s price dropping by $6,000 in a single day. Altcoins fared even worse, with total liquidations reaching $900 million on a daily scale. BTC’s price had briefly surged to over $88,000 on Wednesday but quickly retreated, affected by Trump’s Trade War. The market’s volatility highlights the risks associated with trading cryptocurrencies, which are tradable 24/7.
Bitcoin Dips Below $78,000 Amid Tariff Fears
Bitcoin (BTC) has fallen below the $78,000 mark, trading at $77,840, reflecting a 6% decline. This volatility follows the worst decline in US equities since 2020, triggered by President Donald Trump’s announcement of restrictive global tariffs. The flagship cryptocurrency, which traded above $80,000 for much of the year, is now down 28% from its all-time high of $109,000 in January. Typically, Bitcoin trades in tandem with large tech stocks and is viewed as a leading indicator of market sentiment. Trump’s tariffs also triggered $247 million in Bitcoin liquidations.
Crypto Market Declines, $1 Billion in Liquidations
The crypto market continued to decline on Monday, with BTC falling below $78,000. The decline was accelerated by Trump’s tariff announcement last week. The Asian markets also traded in the red, with Japan’s stock market extending losses to 8.5%, its lowest level since October 2023. According to the Coinglass liquidation heatmap, over $1.01 billion in crypto assets were liquidated in the last 24 hours. This massive loss in market value reflects a broader sell-off triggered by the ongoing US-China trade war and post-US President Donald Trump’s actions.
BTC: Why Is Bitcoin Crashing Today Falling to $76,000?
Leading cryptocurrency Bitcoin (BTC) fell to the $76,000 mark early Monday, erasing gains from a six-month rally from $60,000 to $109,000. The global financial sector is still coming to terms with Trump’s tariffs, creating uncertainty and causing institutional investors to pull out billions from the US and global markets, crashing equities. Bitcoin moves in tandem with the stock market, and a dip in equities makes the leading cryptocurrency plummet.
