Bitcoin news

Bitcoin Price Falls Below $83,000 After Losing 9% – What’s Next?

Bitcoin price has been volatile over the past few days. After hitting a record high of $95,000, BTC has dropped below $83,000, marking a drop of more than 9%. The initial rally was fueled by former President Donald Trump’s proposal to create a US Strategic Reserve for Cryptocurrency. However, optimism quickly waned as regulatory concerns and selling pressure emerged.

Causes of Bitcoin’s Drop
Bitcoin’s sharp price correction was driven by a number of factors:

- Regulatory concerns: Trump’s proposal to hold Bitcoin, Ethereum, and altcoins in the national reserve initially created a wave of excitement, but potential regulatory hurdles have left the market in a state of disbelief.

- Selling pressure from whales: Large investors transferred 8,400 BTC to exchanges, triggering profit-taking moves, pushing BTC prices down sharply.

- Macroeconomic impact: Trump's announcement of a 25% tariff on imports from Canada and Mexico increased uncertainty in financial markets, leading to a sell-off across the entire risk asset market, including Bitcoin.

Bitcoin's future in the face of major volatility
Although BTC prices are under short-term pressure, some financial institutions still believe in the long-term uptrend.

- Standard Chartered predicts that Bitcoin prices could reach $200,000 by 2025 and $500,000 by 2028 due to increased institutional demand.

- Senator Cynthia Lummis continues to push for a policy requiring the US government to accumulate Bitcoin annually.

However, BTC still faces many important challenges in the near future.

Technical Analysis: Levels to Watch
Currently, Bitcoin is trading around $83,857. The nearest key resistance is at $86,841, while the main support is at $78,339.

- If BTC breaks above $86,841, it could signal a recovery and head towards higher resistance levels at $90,184 and $94,941.

- If BTC loses $83,000, the downtrend could resume, pushing the price down to support levels at $78,339, $75,109, and even $71,311.

Bitcoin's volatility remains influenced by political and macroeconomic factors, requiring traders to keep a close eye on important developments.

BTC Bull: A New Investment Opportunity During Volatility
Amidst the volatile Bitcoin market, BTC Bull ($BTCBULL) has emerged as a potential option. It is a community-driven token that offers real Bitcoin rewards to holders.

- Unique airdrop mechanism: BTCBULL automatically distributes BTC when Bitcoin price reaches important milestones, providing long-term benefits to investors.

- Staking with 154% APY: BTCBULL offers attractive staking opportunities, attracting strong participation from the community.

BTC Bull Presale Information
- Presale Price: $0.00239/BTCBULL
- Total Funds Raised: $3.1 Million / Target $3.66 Million

With growing interest from investors, BTC Bull offers an opportunity to own tokens at an early stage before the next bull run.

Conclusion
Bitcoin’s drop below $83,000 marks a sharp correction after the market reacted to Trump’s cryptocurrency reserve proposal. While the long-term outlook for BTC remains positive, short-term risks remain. Investors should closely monitor key support and resistance levels and consider new investment opportunities like BTC Bull to optimize their asset portfolios.