Crypto Market Faces Severe Downturn Amid Tech Selloff

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 3d ago

BTC+2.946%

SOL+2.24%

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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

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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