On Monday, the Bitcoin price fell sharply by $ 80,000, influenced by current sales on the equity market. During the weekend, Bitcoin faced a strong downward pressure, breaking key support levels. The feeling passing by lowering due to the increase in long liquidations, analysts now evaluate if Bitcoin has reached its lowest point or if it could decrease more.
Recession fears investors Bitcoin Trap Bitcoin
Bitcoin has dropped by almost 4% in the last 24 hours, because it is a question that investors are concerned about a potential economic slowdown because the American president Donald Trump has not excluded the possibility of a recession. The seven main actions and the main Wall Street indices are currently losing value.
Coinglass data show that nearly $ 630 million has been liquidated on the cryptography market recently, including $ 210 million in Bitcoin Long positions. Ethereum Longs has lost $ 88 million, and $ 80 million in long -term positions in other digital assets have also disappeared.
The drop in the price of bitcoin started when President Trump signed a decree on Thursday to set up the Bitcoin Strategic Reserve and authorize the creation of a stock of digital assets. The immediate drop in prices probably comes from investors realizing that the order was soon not inclined specific funding to buy bitcoin.
The order asks the secretaries of the Treasury and the Trade to find ways to acquire more bitcoin who will not have an impact on the budget, but it explicitly avoids the use of taxpayers’ money for direct purchases. This decision seems to have upset investors.
Also read: explained: Why did Trump’s Bitcoin reserve overwhelm the cryptography market?
The drop in the price of Bitcoin had a negative impact on a key measure on the chain. According to Intotheblock data, the number of important transactions has gone from a 25.86K summit of transactions to 17.29K of transactions. This indicates a decrease in the interest of the main investors (whales), potentially opening the way to a continuous short -term continuous trend.
However, a rebound in cryptography prices could only occur if traders receive more clarity on regulations and examine the wider effects of Trump’s business prices. These prices have shaken the world markets and exerted pressure on risk assets, including cryptocurrencies.
What is the next step for BTC Price?
The price of Bitcoin undergoes a strong downward pressure because BTC aims at a grip below the crucial level of $ 80,000. Currently, the bears strongly defend a thrust because Bitcoin faces strong pressure downwards under the line of descending resistance. Currently, Bitcoin is negotiated at $ 79,329, reflecting a drop of 4.1% in the last 24 hours.
The BTC / USDT trading pair will now target a retest of $ 75,000. As the sales pressure increases, a consolidation of the region of $ 75,000 will be targeted. If the BTC price drops below $ 75,000, we could see a sharp drop from $ 64,000.
On the other hand, if Bitcoin faces an increase in the purchase of domination and rebounds above the current level, we could see a rupture above the level of $ 80,000 and the line of resistance down. In this case, the BTC price could consolidate below $ 90,000.
