Bitcoin Plunge: How Far Could This Drop Really Go?

Bitcoin's sudden nosedive has traders scrambling—what's next for the world's largest cryptocurrency?

The Freefall Accelerates

Markets wake up to another brutal selloff as Bitcoin breaks through multiple support levels. The cascade of liquidations triggers panic across exchanges, with leveraged positions getting wiped out faster than a hedge fund's credibility.

Technical Breakdown

Key indicators flash red as the decline accelerates. Trading volumes spike while bid support evaporates—classic capitulation signals that suggest more pain ahead. The charts don't lie, but they also don't predict which Wall Street analyst will claim they saw it coming.

Market Psychology Shifts

Fear replaces greed as the dominant market sentiment. The 'buy the dip' crowd grows quieter while skeptics emerge from the woodwork. Meanwhile, traditional finance veterans nod sagely while conveniently forgetting their own track records.

This could either be a healthy correction or the start of something worse—either way, it's another reminder that in crypto, the only thing predictable is the unpredictability.

Bitcoin Dominance Drops Below Key

Crypto analyst More Crypto Online has recently commented on BTC market actions, focusing this time on Bitcoin Dominance (BTC.D), which represents Bitcoin’s dominance over the cryptocurrency market as a whole.

The analyst points out that the BTC Dominance index has broken below a small support level of 59%. This could be seen as an indication of an even stronger bear market if it breaks below 57%. The “yellow scenario” is, however, still in effect as long as it stays below 61.36%.

BTC Approaches Key Support Level

As far as BTC price movement, More Crypto Online stated that Bitcoin seems to be moving along with a proposed pattern of microstructure. Crossing $88,250 will be the first sign that a local bottom has indeed been reached.

Before that happens, however, there is no indication of reaching a bottom at all. Currently, BTC may drop slightly to finish out the last movement in its pattern.

The market, as a whole, is at a crucial level, and market participants are waiting to see whether bitcoin can find support or if further decline is to be expected.

Bitcoin Slides Into Weekly Pressure

The RSI is seen at 35.41, making it quite evident that it is showing weakness as buyers are no longer in control. The MA Ribbon is also showing bearish signals, with the price remaining below major levels such as SMA 20 at 102,661 and SMA 50 at 112,000.

The MACD shows more weakness, with its line at –3,739 and its signal line at –2,887, with its bearish gap widening. The histogram at –852 shows strong bears gaining momentum. All these indicators demonstrate that market sellers continue to dictate market trends, which are moving lower.