Price Analysis
  • Elena R
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    Elena is an expert in technical analysis and risk management in cryptocurrency market. She has 10+year experience in writing - accordingly she is avid journalists with a passion towards researching new insights coming into crypto erena.

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  • 2 minutes read

Why Bitcoin is Crashing Today?

Story Highlights
  • The Bitcoin price today has recorded a 24-hour low of $86,873 with a trading volume of $74.79 billion.

  • Technical indicators EMA 50/200-day & RSI show an increased negative trend, suggesting rising uncertainty.

  • By evaluating the market sentiments, the resistance and support trend levels are $92,000 & 85,000.

The cryptocurrency market has crashed over 5% overnight with a trading volume of $144.82 billion. With this, the crypto-verse is now valued at $3.01 Trillion. Notably, the market has wiped out over $110 billion in 24 hours, making it the worst-performing day of the year.

Considering the ongoing market statistics, is this a good time to invest in Bitcoin? Moreover, investors are storming the internet with questions like โ€œWhy is BTC crashing?โ€ In this article, we have uncovered the market sentiments and possible short-term Bitcoin price analysis just for you.

BTC Price Breaks Below Its Crucial Support Of $90,000!

The price of Bitcoin has lost 7.16% in 24 hours with a trading volume of $74.79 billion, a change of +206.03%. Furthermore, it has dropped ~8% in 7 days and ~15% in the last 30 days. With a YTD return of -4.68%, its dominance has increased to 61.1079%.

BTC Price Breaks Below Its Crucial Support Of $90,000!

The EMA 50-day constantly acts as a resistance to the Bitcoin price chart in the daily time frame with its EMA 200-day on the verge of experiencing a negative crossover. This highlights an increase in the selling-over-buying pressure for the largest crypto token.

Moreover, the Relative Strength Index (RSI) records a sharp plunge toward the oversold range in the 1D time frame. Moreover, the average trendline displays a similar price trend, suggesting a negative outlook for the BTC price this week.

How Low Will Bitcoin Price Go?

If the bears maintain the negative momentum, the Bitcoin price could retest its support level of $85k. Maintaining the price below that level could set the stage for it to plunge toward its lower support price of $81,000 in the upcoming time.

However, if the bulls outrun the bears, the BTC price may retest its immediate resistance level of $90,000. Moreover, if the bulls dominate the market, this could result in the largest crypto token heading toward its upper resistance level of $92,000.

Are you one of many who are wondering whatโ€™s next for BTC price amid the ongoing market turmoil? Read CoinPediaโ€™s latest Bitcoin Price Prediction today to uncover the possible long-term puzzles!

FAQs

Why is the Bitcoin price falling?

Amid the ongoing tariff war, the global market has experienced a major setback, resulting in the BTC price losing its value.

How much will 1 Bitcoin be worth in 2025?

Considering an optimistic situation, the price of BTC token could reach a maximum trading value of $160,000 this year.

How much is Bitcoin worth?

At the time of writing, the value of one Bitcoin was $88,905.75.

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