On Monday, Bitcoin witnessed a sharp decrease, as it decreased to less than 80,000 dollars, as the constant sale in traditional stock markets affected. During the weekend, Bitcoin struggled under great declining pressure, penetrating decisive support levels. Due to the liquidation of long positions, the market morale has turned into an increasingly declining, leaving analysts wondering whether the cryptocurrency has reached its lowest point or if there are other losses on the horizon.
During the past 24 hours, Bitcoin has decreased by approximately 4 %, partly due to the increasing concerns of potential stagnation. These concerns were amplified by US President Donald Trump, who left the door open to the possibility of economic shrinkage. Meanwhile, major American stocks and indexes suffer from losses.
According to Coinglass data, the Crypto Market has seen more than $ 630 million in the liquidation recently, as Bitcoin’s long jobs are $ 210 million of this amount. Long ethereum sites were obtained for $ 88 million in liquidation, and $ 80 million in other digital assets has been eliminated.
The recession began to follow President Trump’s signature on an executive order on Thursday, with the aim of establishing a strategic bitcoin reserve and creating digital asset stocks. It is possible that the immediate low prices stem from the disappointment of investors when the demand does not include plans to buy Bitcoin directly with government funds.
While the matter directs the US Treasury and Trade sections to explore the methods of obtaining bitcoin that will not affect the national budget, it has made it clear that taxpayers money will not be used to buy bitcoin directly. This decision has left investors uncomfortable.
The sharp decrease in the price of bitcoin was also reflected in a key scale on the chain. Data from InTothheblock reveals that the number of large transactions has decreased from the peak of 25.86 km to 17.29 thousand, indicating a decrease in interest from institutional investors (whales), which can contribute to another short -term declining movement.
However, market recovery can be possible if traders gain a clearer look on the regulations or interact with the broader effects of Trump’s commercial tariffs, which shook global markets and pressures on risk assets, including cryptocurrencies.
Bitcoin is still under severe pressure, struggling to stay on the mark of $ 80,000. At a price currently at $ 79,329, it represents a decrease of 4.1 % over the past 24 hours, BTC has strong resistance as the bears continue to defend against the upholstery. The next possible support level for Bitcoin can be $ 75,000, and if it is less than this level, there can be an additional decrease of about $ 64,000.
However, if Bitcoin is suffering from an increase in the purchase of interest, it may penetrate the current resistance and climb over the threshold of $ 80,000. In such a case, BTC may integrate without a mark of $ 90,000 as the market restores some stability.
