Is Crypto Coins Bitcoin Going Down Now? Market Overview and Trends for Investors

Bitcoin's price has been known to fluctuate rapidly, with a single day's drop of over 10% in 2022, according to historical market trends.

The crypto market is notoriously unpredictable, with a 24-hour trading cycle that can be influenced by global events, regulatory changes, and market sentiment.

In the past, Bitcoin's price has been affected by the overall market trend, with a strong correlation between Bitcoin's price and the overall crypto market capitalization.

However, it's worth noting that Bitcoin's price can also be influenced by its own unique factors, such as changes in mining difficulty and the adoption of new technologies.

Market sentiment is currently fragile, with indices like the S&P 500 and Nasdaq down over 1%. This has added to investor caution in the cryptocurrency space.

Bitcoin's price has continued its downward trend, signaling that the market may not be ready for a rebound just yet. Fundamentally, the main factor for Bitcoin's downturn is profit-taking by long-term holders.

MicroStrategy's acquisition of 2,138 more BTC at ~$97,837 per bitcoin is a notable move, but even with this purchase, Bitcoin's price has continued to decline. Technical analysis reveals that Bitcoin is struggling to maintain key support levels.

Rekt Capital notes that if history repeats, the Bitcoin price is likely to see some retracement this week, with a pullback ahead. This could take the Bitcoin price under $100K.

The Coinglass liquidation data shows $71 million in BTC liquidation in the last 24 hours, with $48 million in long liquidations. As of press time, BTC price is trading 2.5% down at $103,820, with its daily trading volume dropping 10%.

Here are some key statistics on the current market sentiment and price movement:

Overall, the current market sentiment suggests that investors are cautious, and the price movement indicates that Bitcoin may not be ready for a rebound just yet.

Bitcoin's price is currently above the $200 moving average, which is acting as support. This is a positive sign.

The cryptocurrency has tested the crucial $91,883 support level and rebounded to $94,325. However, it's essential to note that if the price drops below this level, it could decline further before any change of trend can be seen.

Potential levels to watch if the price drops below $91k are $72,341, $67,928, or $61,152. These are significant levels that could indicate further price drops.

The Relative Strength Index (RSI) is currently above the oversold zone at 44, which means the price could further go down, at least in the short term. This is a warning sign for potential investors.

As we move into 2025, Bitcoin's outlook remains uncertain. The path ahead is less clear for the top digital asset, with the potential for further volatility in 2025.

Bitcoin's price has been on a downward trend, with a 16% decline from its peak of $108k on December 17. This decline has been fueled by profit-taking by long-term holders, who have benefited from the cryptocurrency's significant price increase this year.

Fundamentally, the main factor for Bitcoin's downturn is profit-taking by long-term holders. Macroeconomic conditions are also playing an important role, with the uncertainty surrounding the Federal Reserve's interest rate policy adding to investor caution.

The uncertainty surrounding the Federal Reserve's interest rate policy has caused investor caution, with indices like the S&P 500 and Nasdaq down over 1%. Despite substantial acquisitions from major players like MicroStrategy and Tether, Bitcoin's technical indicators suggest the price could face further declines.

MicroStrategy has acquired 2,138 BTC for ~$209 million at ~$97,837 per bitcoin and has achieved BTC Yield of 47.8% QTD and 74.1% YTD. However, even with these acquisitions, Bitcoin's price has continued its downward trend, signaling that the market may not be ready for a rebound just yet.

If history repeats, the Bitcoin price is likely to see some retracement this week. As BTC has entered week 7 of its price discovery, popular crypto analyst Rekt Capital expects a pullback ahead.

Here are some notable historical retraction periods:

These retraction periods are a normal part of Bitcoin's cycle and have historically erased weeks of gains in a short time. Crypto analyst Ali Martinez also supported this view, adding that Bitcoin may see a brief correction after reaching $110,000, a steep correction after hitting $125,000, and the end of the bull market at $220,000!

The path ahead is less clear for the top digital asset, with the potential for further volatility in 2025. Bitcoin's technical outlook remains uncertain, with the cryptocurrency flipping the 50-day Exponential Moving Average into resistance and testing the crucial $91,883 support level before rebounding to $94,325.

Bitcoin's price fall is a 16% decline from its peak, and it's not just Bitcoin that's affected - other cryptocurrencies like Ether and Solana are also seeing a sell-off.

Fundamentally, the main factor for Bitcoin's downturn is profit-taking by long-term holders, who have benefited from the cryptocurrency's significant price increase this year.

The uncertainty surrounding the Federal Reserve's interest rate policy is adding to investor caution, making sentiment in the cryptocurrency space fragile.

Despite substantial acquisitions from major players like MicroStrategy and Tether, Bitcoin's technical indicators suggest the price could face further declines.

MicroStrategy has acquired 2,138 more BTC, bringing its total holdings to 446,400 BTC, but even with these acquisitions, Bitcoin's price has continued its downward trend.

The Fear and Greed Index shows high greed, yet technical indicators suggest bearish momentum, making it a volatile time to be investing in cryptocurrencies.

Here are some key market indicators to keep an eye on:

Markets often move against the crowd, so a sudden reversal is always a possibility.