Bitcoin Price Falls Below $83K After 9% Drop – What’s Next for BTC?
Bitcoin
Cryptocurrency
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We believe in full transparency with our readers. Some of our content includes affiliate links, and we may earn a commission through these partnerships. However, this potential compensation never influences our analysis, opinions, or reviews. Our editorial content is created independently of our marketing partnerships, and our ratings are based solely on our established evaluation criteria. Read More
Why Trust Cryptonews
Bitcoin’s price took a dramatic turn, surging to $95,000 before crashing below $83,000 in a matter of days. The initial rally was fueled by former President Donald Trump’s proposal for a U.S. Crypto Strategic Reserve, which aimed to include Bitcoin, Ethereum, and several altcoins.
However, enthusiasm quickly faded as concerns over regulatory approval and implementation surfaced. Additionally, profit-taking and macroeconomic factors triggered a wave of sell-offs, sending BTC tumbling to $82,880. Large investors offloaded 8,400 BTC onto exchanges, amplifying the bearish momentum.
Meanwhile, Trump’s confirmation of a 25% tariff on imports from Canada and Mexico added to market uncertainty, leading to a broader sell-off in risk assets, including Bitcoin.
While optimism around institutional adoption remains, the short-term outlook for BTC remains shaky.
US Crypto Reserve Sparks Debate as Bitcoin Struggles
Trump’s U.S. Crypto Strategic Reserve proposal initially ignited optimism, with many investors seeing it as a major step toward mainstream adoption. Some argued that this could serve as a hedge against financial instability, while others questioned whether Bitcoin’s volatility made it a risky asset for government reserves.
Bitcoin briefly hit $95,000 following the announcement but failed to maintain gains as doubts emerged. Traders worried about potential regulatory hurdles and political opposition, leading to a sell-off that erased all previous gains.
- Trump’s Crypto Reserve plan pushed BTC to $95K before reversal.
- Investors divided over Bitcoin’s role in national reserves.
- Regulatory concerns triggered selling pressure, driving BTC below $83K.
Despite recent price declines, some institutions remain bullish on Bitcoin’s long-term trajectory. Standard Chartered maintains its price targets of $200K by 2025 and $500K by 2028, citing increasing institutional demand.
Meanwhile, Senator Cynthia Lummis continues to push for legislation requiring the U.S. government to accumulate Bitcoin annually.
Bitcoin’s Technical Outlook – Key Levels to Watch
Bitcoin is currently trading at $83,857, struggling to find support after a 9.14% drop in the past 24 hours. The 50-day EMA at $87,322 remains a key resistance level, reinforcing the short-term bearish trend.
- Immediate resistance: $86,841, with stronger levels at $90,184 and $94,941.
- Immediate support: $78,339, with further downside potential toward $75,109 and $71,311.
- Breakout signal: A move above $86,841 could signal a recovery, while failure to hold $83,000 may extend the decline.
With uncertainty surrounding Trump’s Crypto Reserve proposal, macroeconomic concerns, and increased selling pressure, Bitcoin’s near-term direction remains volatile. Traders should watch for a decisive move above resistance or deeper losses if BTC fails to hold support.
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- Current Presale Price: $0.00239 per BTCBULL
- Total Raised: $3.1M / $3.66M target
With investor interest surging, this presale offers an opportunity to secure BTCBULL at early-stage prices before the next price jump.
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