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Blockchain & Cryptocurrency
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Bitcoin's Tumultuous Journey Amid Market Fluctuations
2025-02-25 13:29:10

Bitcoin's Tumultuous Journey Amid Market Fluctuations

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Bitcoin has been experiencing significant volatility, dropping below $90,000, a sharp decline from its previous high of over $109,000 on Donald Trump's inauguration day. Investors initially hoped for favorable crypto regulations under Trump's administration, but these expectations were unmet. Contributing to Bitcoin's decline was a massive $1.5 billion crypto theft from Bybit and Trump's tariff announcements against Mexico and Canada. Eric Trump and Michael Saylor encouraged buying the dip, with Saylor planning substantial Bitcoin acquisitions. Bitcoin's market cap fell to $1.76 trillion, and the Crypto Fear and Greed Index indicated extreme fear.

Meanwhile, some analysts remain optimistic about Bitcoin's future. Veteran analyst Sam Price predicts Bitcoin will reach new all-time highs, citing bullish indicators such as the 22-hour 200 EMA. Additionally, Bitget CEO Gracy Chen believes Bitcoin could surpass gold's market cap by 2025, driven by institutional adoption. Despite the current turbulence, Bitcoin's long-term outlook remains a topic of debate among experts, with many closely monitoring regulatory developments and market trends.

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Market Movements and Key Cryptocurrencies This Week

Recent fluctuations in cryptocurrency prices have been influenced by external factors such as tariffs and interest rates, alongside a significant hack affecting the Bybit exchange. Bitcoin remains below the $100,000 mark, while Ethereum struggles beneath $3,000. The crypto fear and greed index indicates a neutral sentiment, with Bitcoin holding a 60% dominance in the market. This week, Bitcoin's trading patterns show potential support at $88,960 and resistance at $109,100. Additionally, tokens like Optimism and Sui are set to attract attention due to their recent token releases and potential bearish trends. Analysts suggest that Ethereum may face further declines unless it can surpass key resistance levels. Overall, the market is poised for notable shifts as these cryptocurrencies evolve.

Bitcoin's Recent Plunge and Market Turmoil

Bitcoin has recently faced a significant downturn, plummeting below $90,000 for the first time in over a month. This decline marks a 20% drop from its all-time high of $109,356, which was reached on the day of Trump's inauguration. Over the past five days alone, Bitcoin's value has decreased by nearly 9%. Analysts attribute this downward trend to various factors, including renewed concerns over Trump's tariffs affecting market sentiment and triggering sell-offs. Adding to the turmoil, a massive $1.5 billion hack at Bybit has further destabilized the cryptocurrency market. This event, coupled with fears of inflation and economic uncertainty, has led to over $1.6 billion in liquidations. As a result, market sentiment has plunged into 'extreme fear,' according to the Crypto Fear & Greed Index. Despite the current bearish outlook, some analysts remain optimistic about Bitcoin's long-term potential. However, the immediate future seems challenging, with potential support levels eyed at $81,000. Investors are closely monitoring the market for positive catalysts to drive recovery, amidst a backdrop of ETF outflows and market instability.

Read 5 more recent news on this topic

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Bitcoin's price is at risk of retesting support between $64,500 and $63,000, coinciding with the 50 and 100-day exponential moving averages. An untested daily order block between $61,400 and $62,300 may also be a potential support level. Bitcoin's long-term support between $60,000 and $56,000 is important, as over 6 million addresses hold 2.42 million BTC at an average price of $56,083, and this range also acts as a previous lower-low. According to analyst Captain Faibik, Bitcoin is currently..
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Veteran analyst Sam Price, host of CryptoLifers and with over 15 years of experience analyzing markets across major stock exchanges like the Toronto Stock Exchange and New York Stock Exchange, predicts Bitcoin will soon break out to new all-time highs, with key resistance levels at $98,500 and $104,000. He cites Bitcoin's hold on the 22-hour 200 exponential moving average (EMA) and the Stochastics RSI resetting as bullish indicators, while noting a potential support level in the $74,000 - $68,..
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