Bitcoin is showing signs of weakness, struggling to hold its ground below $100K. In the past hour, it has been fluctuating between $95,850 and $97,729, with a market value of $1.917 trillion and a global trading volume of $47.52 billion. It’s now sitting 11% below its all-time high, leaving traders wondering: Is a rebound coming, or is there more downside ahead?
While many are hoping for a recovery, the road ahead isn’t so simple. A bearish pattern has emerged, and key market forces – including U.S. policy changes and economic uncertainty – could push Bitcoin further down. 10X Research has issued a warning.
What are they seeing, and how could it impact Bitcoin’s next move? Let’s dive in.
Bitcoin is struggling to regain $100K, partly due to rising geopolitical tensions. 10X Research has identified a “Diamond Top” pattern, which often signals a price drop after a strong rally. This suggests Bitcoin might give up some of its gains from the November surge.
Bitcoin was close to breaking above $105,500, but recent events have created uncertainty. U.S. President Donald Trump’s announcement of new tariffs unsettled investors, making them cautious. At the same time, the Federal Reserve’s tough stance on interest rates has added pressure.
As a result, many traders are holding back, waiting for better conditions.
While Bitcoin attempted a rebound, Ethereum saw a sharp decline, increasing volatility in the crypto market. Even with Eric Trump showing support for ETH, complex trading strategies—like option gamma hedging and futures liquidations—triggered wild price swings.
Historically, large Ethereum sell-offs haven’t led to quick recoveries, suggesting that the market remains under pressure.
Trump’s new tariffs caused a major market crash, leading to heavy losses in stocks, commodities, and cryptocurrencies. Altcoins were hit the hardest, with the total crypto market cap dropping from $1.46 trillion at the end of January to $1 trillion by February 3—wiping out $460 billion in value.
Bitcoin’s growing dominance is delaying the much-anticipated altcoin season. Meanwhile, Trump’s administration has signaled a stronger focus on stablecoins, further weakening investor confidence. Additionally, Bitcoin’s role in Trump’s 100-day economic strategy appears to be fading, adding to market uncertainty.
Our advice?
With weak technical indicators and ongoing economic uncertainty, Bitcoin could face more losses. Some believe the market will stabilize soon, while others expect further declines. For now, we advise traders stay cautious, watching for signs of a potential turnaround.
Bitcoin is down due to geopolitical tensions, U.S. tariffs, bearish technical patterns, and market uncertainty affecting investor confidence.
Trump’s tariffs have increased market fear, affecting stocks, commodities, and crypto, making investors cautious about Bitcoin’s short-term movement.
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