Today, the price of Bitcoin continues to fall. In the past 24 hours, more than 310,000 people have been liquidated, with a total amount of US$1.023 billion. Among them, long orders accounted for 93%.
Analysis of decline drivers:
The U.S. states of Montana and South Dakota recently rejected proposals to use Bitcoin as a state reserve asset, raising market concerns about the strategic asset status of Bitcoin. Previously, the market had too high expectations for the Trump administration to promote digital asset policies, but actual progress was slow, leading to a cooling of sentiment.
After Bitcoin fell below the key support level of $90,000, technical selling pressure intensified. Moreover, the decline occurred during a period of low trading volume, and the lack of demand for bargain hunting further amplified the decline.
David believes that if the price can stabilize above $90,000, bulls may still dominate the market, but if it continues to fall below key support, the short-term adjustment cycle may be extended.
$87,000 has become the new short-term defense line, and if it fails, it may drop to the $85,000 area.
The current Bitcoin market is hit by both policy negatives and technical breakdowns, and short-term risks have increased, but the long-term institutional bullish logic has not changed. Traders need to be wary of high volatility risks, and at the same time pay attention to key support levels and market sentiment repair signals.
Traders who don’t know when to enter the market can follow me. When the opportunity comes, I will release more accurate signals in my trading center in a timely manner. Welcome everyone, I will make you financially free.
BTCUSD BTCUSD
Analysis of decline drivers:
The U.S. states of Montana and South Dakota recently rejected proposals to use Bitcoin as a state reserve asset, raising market concerns about the strategic asset status of Bitcoin. Previously, the market had too high expectations for the Trump administration to promote digital asset policies, but actual progress was slow, leading to a cooling of sentiment.
After Bitcoin fell below the key support level of $90,000, technical selling pressure intensified. Moreover, the decline occurred during a period of low trading volume, and the lack of demand for bargain hunting further amplified the decline.
David believes that if the price can stabilize above $90,000, bulls may still dominate the market, but if it continues to fall below key support, the short-term adjustment cycle may be extended.
$87,000 has become the new short-term defense line, and if it fails, it may drop to the $85,000 area.
The current Bitcoin market is hit by both policy negatives and technical breakdowns, and short-term risks have increased, but the long-term institutional bullish logic has not changed. Traders need to be wary of high volatility risks, and at the same time pay attention to key support levels and market sentiment repair signals.
Traders who don’t know when to enter the market can follow me. When the opportunity comes, I will release more accurate signals in my trading center in a timely manner. Welcome everyone, I will make you financially free.
BTCUSD BTCUSD 
Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Continuously release precise trading plans to lead members to expand profits, with a stable profit of 988% every month. If you have not made a profit yet, then join us. t.me/fahsufnwks
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.