Crypto Market Faces Severe Downturn Amid Tech Selloff
- Bitcoin Decline: Bitcoin slid 2.5% to around $73,000, marking its lowest level since November 2024 and officially erasing the entire post-Trump election rally, indicating heightened market concerns over risk assets.
- Tech Stock Plunge: Strategy Inc. fell 8% to its lowest since September, while cryptocurrencies like Solana and Ethereum dropped approximately 7% and 5%, respectively, reflecting ongoing investor anxiety regarding the AI industry's impact.
- Increased Market Fear: The Crypto Fear and Greed Index fell to 14, entering the extreme fear zone, which typically correlates with declining cryptocurrency prices and a significant drop in investor confidence.
- Severe Liquidations: Liquidations surged 192% in the last 24 hours to over $794 million, affecting more than 174,000 traders, with Ethereum liquidations totaling $307 million, highlighting a worsening liquidity crisis in the market.
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Technical Analysis for BTC
Technical Sentiment Analysis for Bitcoin (BTC) As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.
Momentum Indicators: RSI, MACD & Overbought/Oversold Status Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the stock.
Support, Resistance & Moving Averages From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.
Bitcoin (BTC) Support & Resistance Level
| Name | S3 | S2 | S1 | Pivot Points | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Classic | 36441.945 | 48220.973 | 61177.695 | 72956.723 | 85913.445 | 97692.473 | 110649.195 |
| Fibonacci | 48220.973 | 57670.029 | 63507.666 | 72956.723 | 82405.779 | 88243.416 | 97692.473 |
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