Bitcoin Falls Into 'Extreme Fear': How Low Will It Go?
Bitcoin dropped below $80,000 over the weekend, briefly hitting $74,500 before recovering to around $78,500. This marks four consecutive monthly declines for BTC, the longest losing streak since 2018. The decline was triggered by macroeconomic turmoil, including tariff threats from Donald Trump, which led to over $2.2 billion in crypto liquidations and a plunge in the Fear & Greed Index to “extreme fear” levels. Safe haven assets like gold and silver also saw massive single-day losses as investors flocked to the dollar. Although most major cryptocurrencies are bouncing slightly today and Bitcoin is up about 1% in the last 24 hours, technical indicators remain bearish: EMAs confirm a downtrend, the ADX reflects strong negative momentum, and the four-hour chart shows failed attempts to recover support. The RSI sits in oversold territory, suggesting the potential for a relief bounce, but broader sentiment and prediction markets remain bearish. Critical support is near $74K; a break below this could send BTC to $69K. Immediate resistance lies at $80.6K, with further barriers at $91.3K. Market sentiment remains firmly risk-off.
