Bitcoin Plunges to Critical Support Level - Next Stop Could Be Much Lower If This Breaks

Bitcoin's dramatic retreat has brought it to a make-or-break technical level that previously sparked massive rallies.

The Precarious Position

BTC finds itself clinging to a crucial support zone that historically served as launchpad for explosive upward moves. Market watchers hold their breath as the digital asset tests this key threshold.

Technical Breakdown

Failure to hold current levels could trigger cascading liquidations, pushing prices toward significantly lower targets. The very level that once fueled optimism now threatens to become resistance if broken.

Market Sentiment Shift

Traders who cheered previous bounces from this zone now watch nervously. The same technical patterns that signaled buying opportunities now flash warning signs.

Another day in crypto - where yesterday's floor becomes today's ceiling, and traditional finance analysts scratch their heads while counting their 'stable' 2% returns.

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On Thursday, President Donald Trump announced during a WHITE House press conference that Merck’s U.S. subsidiary, EMD Serono, has agreed to cut the prices of its popular fertility medicines in exchange for future tariffs on the pharma industry. An additional condition is that the company double down on its pharmaceutical production in the U.S.

Merck Agrees to 84% Discount on Fertility Drugs

Specifically, Merck noted that eligible American patients with prescriptions will receive an 84% discount off the list price when they use all three of its in-vitro fertilization (IVF) medicines — Gonalf-F, Ovidrel, and Cetrotide — during their IVF protocol. Merck also plans to sell the fertility drugs directly to Americans and will join TrumpRx, a site being planned by the Trump administration to sell medicines at discounted prices.

The arrangement fulfills one of Trump’s campaign promises to make IVF more affordable for Americans. Gonalf-f, whose price Trump said is 700% higher in the U.S. than in other parts of the world, is the most prescribed follicle-stimulating hormone (FSH) in the U.S., according to Merck.

In fertility treatments, medications like Gonal-f help to stimulate multiple follicles — tiny fluid-filled sacs in the ovary that contain immature eggs called ‘oocyte’ — to increase the chances of egg retrieval or natural conception. Merck noted that more than 10 million American women are struggling to have a baby.

Merck to Get Speedy Review for Pergoveris

Meanwhile, as part of the deal, Merck will also get priority review for its medication Pergoveris, cutting the evaluation period from around 12 months to just about two months. Pergoveris, which helps women produce eggs in the absence of sufficient required hormones, has already been approved in 74 countries, Merck said.

The new deal comes as Trump has been campaigning for American pharmaceutical companies to lower drug prices while deploying tariffs as a strategy. Merck is one of 17 major pharmaceutical companies to which Trump wrote a letter earlier in July, where he also made the demand.

Pharma Companies Make Proactive Moves

While Pfizer and AstraZeneca — and now Merck — have made direct, discounted drug pricing deals with Trump targeted at the Medicaid program, other pharmaceuticals that are not yet onboarded to such arrangements have nevertheless begun launching direct sales to customers at lower prices.

This includes Swiss pharmaceutical company Roche (RHHBY) for its flu pill Xofluza and U.S.-based Amgen (AMGN) for its cholesterol-lowering injection Repatha.

What are the Best Pharma Stocks to Buy?

As more Big Pharma firms join the Trump discount wagon amid a volatile tariff environment, knowing which stocks are good buys remains critical. TipRanks’ Stock Comparison tool provides insight into which pharma and healthcare stocks are worth buying at this time.

Kindly refer to the graphics below.