Bitcoin (BTC) Price Loses Key Support Levels as On-Chain Analysts Sound the Alarm
After months of consolidation, Bitcoin's price has lost key support levels that could signal the start of a new bear market.
Bitcoin’s price lost a key technical support level on Monday, a development that could signal the start of a new bear market in the leading cryptocurrency.
Bitcoin’s price fell to around $63,000 on Monday morning in the United States, according to data from Coinbase. This marks a loss of the 200-day simple moving average (SMA), a closely watched technical indicator that tracks the average price of Bitcoin over the last 200 days.
Bitcoin’s price has largely consolidated in recent months after surging to new all-time highs of around $65,000 in April. This consolidation has allowed the 200-day SMA to catch up to the market price.
Now that Bitcoin’s price has fallen below the 200-day SMA, some technical analysts are warning that this could be the start of a new bear market in the leading cryptocurrency. A bear market is typically defined as a decline of 20% or more from recent highs.
However, it’s important to note that technical analysis is not an exact science and there are many other factors that could influence Bitcoin’s price in the coming weeks and months.
One key factor to watch is the level of support at $50,000. If Bitcoin’s price can hold above this level, it could help to prevent a further sell-off. However, if Bitcoin’s price falls below $50,000, it could trigger a faster decline.
Another factor to watch is the level of buying interest from institutional investors. In recent months, we’ve seen a lot of buying activity from hedge funds and other large institutions. This buying interest has helped to support Bitcoin’s price at higher levels.
However, if institutional investors start to lose interest in Bitcoin, it could lead to a sell-off in the cryptocurrency. Keep an eye on the level of buying activity from institutional investors in the coming weeks and months.
The above is the detailed content of Bitcoin (BTC) Price Loses Key Support Levels as On-Chain Analysts Sound the Alarm. For more information, please follow other related articles on the PHP Chinese website!
FloppyPepe (FPPE) Price Could Explode As Bitcoin (BTC) Price Rallies Towards $450,000May 09, 2025 am 11:54 AMAccording to a leading finance CEO, the Bitcoin price could be set for a move to $450,000. This Bitcoin price projection comes after a resurgence of good performances, signaling that the bear market may end.
Pi Network Confirms May 14 Launch—Qubetics and OKB Surge as Best Cryptos to Join for Long Term in 2025May 09, 2025 am 11:52 AMExplore why Qubetics, Pi Network, and OKB rank among the Best Cryptos to Join for Long Term. Get updated presale stats, features, and key real-world use cases.
Sun Life Financial Inc. (TSX: SLF) (NYSE: SLF) Declares a Dividend of $0.88 Per ShareMay 09, 2025 am 11:50 AMTORONTO, May 8, 2025 /CNW/ - The Board of Directors (the "Board") of Sun Life Financial Inc. (the "Company") (TSX: SLF) (NYSE: SLF) today announced that a dividend of $0.88 per share on the common shares of the Company has been de
Sun Life Announces Intended Renewal of Normal Course Issuer BidMay 09, 2025 am 11:48 AMMay 7, 2025, the Company had purchased on the TSX, other Canadian stock exchanges and/or alternative Canadian trading platforms
The Bitcoin price has hit $100k for the first time since February, trading at $101.3k at press time.May 09, 2025 am 11:46 AMBTC's strong correlation with the Global M2 money supply is playing out once again, with the largest cryptocurrency now poised for new all-time highs.
Coinbase (COIN) Q1 CY2025 Highlights: Revenue Falls Short of Expectations, but Sales Rose 24.2% YoY to $2.03BMay 09, 2025 am 11:44 AMBlockchain infrastructure company Coinbase (NASDAQ: COIN) fell short of the market’s revenue expectations in Q1 CY2025, but sales rose 24.2% year
Ripple Labs and the SEC Have Officially Reached a Settlement AgreementMay 09, 2025 am 11:42 AMRipple Labs and the U.S. Securities and Exchange Commission (SEC) have officially reached a deal that, if approved by a judge, will bring their years-long legal battle to a close.
JA Mining Helps Global Users Share the Benefits of the Bitcoin Bull MarketMay 09, 2025 am 11:40 AMBy lowering the threshold for mining and providing compliance protection, JA Mining helps global users share the benefits of the Bitcoin bull market.
Hot AI Tools
Undresser.AI Undress
AI-powered app for creating realistic nude photos
AI Clothes Remover
Online AI tool for removing clothes from photos.
Undress AI Tool
Undress images for free
Clothoff.io
AI clothes remover
Video Face Swap
Swap faces in any video effortlessly with our completely free AI face swap tool!
Hot Article
Hot Tools
Dreamweaver Mac version
Visual web development tools
SAP NetWeaver Server Adapter for Eclipse
Integrate Eclipse with SAP NetWeaver application server.
SublimeText3 Chinese version
Chinese version, very easy to use
MantisBT
Mantis is an easy-to-deploy web-based defect tracking tool designed to aid in product defect tracking. It requires PHP, MySQL and a web server. Check out our demo and hosting services.
DVWA
Damn Vulnerable Web App (DVWA) is a PHP/MySQL web application that is very vulnerable. Its main goals are to be an aid for security professionals to test their skills and tools in a legal environment, to help web developers better understand the process of securing web applications, and to help teachers/students teach/learn in a classroom environment Web application security. The goal of DVWA is to practice some of the most common web vulnerabilities through a simple and straightforward interface, with varying degrees of difficulty. Please note that this software
