Bitcoin and the global cryptocurrency market have been faced with a sharp decline, because concerns about the US economy have pushed investors in panic mode. Bitcoin fell at $ 76,000, marking its lowest level in four months. This sudden drop caused mass liquidations, with traders lose $ 952 million in just 24 hours.
Bitcoin descends below $ 80,000
Bitcoin has been on a losses for five days, going from $ 80,000 to $ 77,000. Analysts believe that this drop is due to the rise in fears of an American recession, with the chances of 40%.
At the same time, there are speculations according to which the policies of former president Donald Trump can influence market movements to push the federal reserve in the reduction of interest rates.
The expert on the Anthony Poseliano market suggests that Recent stock market instabilityPartly caused by Trump’s prices, could put pressure on the president of the Fed, Jerome Powell, to reduce loan costs.
Meanwhile, the 10 -year -old treasure yield increased from 4.8% in January to 4.21%, which led a lot to believe that the federal reserve could soon adjust its monetary policy. This could have a major impact on the stock market and cryptocurrencies.
The next Bitcoin movement: recovery or additional drop?
Bitcoin has fallen for weeks and fell to $ 76,900, its lowest level since November 2024. However, it is still held slightly above the exponential mobile average of 50 weeks (EMA), which could be a good sign.
However, a sale continues, Bitcoin could fall more at $ 73,750, a significant level of support from March 2024.
But if buyers intervene and push the price Above $ 80,000BTC could recover and target $ 85,000.