Bitcoin Price’s Brutal Sell-Off Has One More Stop, Says Analyst — Here’s Where
Summary
Bitcoin price is currently around $104,000, reflecting a 2.5% decline in the last 24 hours, with other cryptocurrencies like Ethereum and XRP dropping 8% and 4%, respectively. The price has lost the critical resistance level of $108,385 and is expected to test support around $99,600. If this level fails to hold, Bitcoin may decline further to its range low of $90,000. Analysts advise caution and suggest waiting for confirmation of a bullish trend before making moves. Rising geopolitical tensions between the US and China, along with issues in the Middle East, pose risks to the crypto market. However, positive indicators include increased Ethereum ETF inflows and GameStop's plans to invest in Bitcoin for balance sheet diversification.
