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02/06 14:42

Bitcoin Price Crash: How Low Can BTC Price Go? St

Bitcoin Price Crash: How Low Can BTC Price Go?

Story Highlights

Today, Bitcoin price recorded a low of $91,242 on $102.53 billion in trading volume.

The SMA and RSI technical indicators are showing a strong bearish pullback, suggesting a negative outlook.

That said, BTC price is now trading at a ~13% discount from its ATH of $108,268.45.

Amid concerns over Donald Trump, the President of the United States of America, influencing tariffs on major trading partners including China, Canada, and Mexico, the cryptocurrency market has lost $2.26 billion. Since then, Bitcoin price has fallen below $95,000 in the last 24 hours after declining nearly 6% in seven days.

Given the current market sentiment, is now a good time to invest in Bitcoin?  Moreover, investors are worried about another potential crypto crash this week! In this article, we have revealed the market sentiment and possible short-term analysis of Bitcoin price.

BTC price breaks a major trend support line!

Bitcoin price has fallen by about 5% in 24 hours with a trading volume of $102.53 billion. Moreover, it has lost 6.71% in the last seven days and ~6% in the last month. Moreover, with a market cap of $1.889 trillion, Bitcoin price dominates at 60.84%.

The Relative Strength Index (RSI) is showing a sharp drop towards the oversold range on the daily time frame. Moreover, its average trend line is acting as a resistance to the Bitcoin price chart. This suggests that selling pressure is increasing on the largest crypto token in the market.

On the other hand, the SMA indicator is seeing a similar price trend on the price chart.  This indicates that Bitcoin price may continue to lose value in the near future.

Will BTC Price Recover This Week?

If the bulls regain momentum, Bitcoin price will retest its immediate resistance level of $98,000. Holding above this level could set the stage for its move towards its landmark price of $100,000 this week.

On the contrary, if the bears outpace the bulls, BTC price will retest its important support level of $92,000. Moreover, if the bearish sentiment intensifies, it could lead to the largest crypto token falling towards its lower support level of $90,000.

Are you one of the many wondering if BTC price will reach $150,000 in 2025? Read CoinPedia’s Bitcoin price prediction to uncover the long-term secrets!

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