Bitcoin price plummets again, is this a sign of crisis? Potential Scenarios for Bitcoin April 2025

Jakarta, Pintu News – Bitcoin BTC->Current BTC PriceRp 0Market Cap-Trading Volume-Circulating Supply- has experienced another sharp drop below the $78,000 zone, sparking fears of further declines. In the past few hours, Bitcoin (BTC) has shown significant volatility, with a sudden drop below key support levels.

Current Bitcoin Market Conditions

Bitcoin (BTC) started its sharp decline by breaking below the $80,000 and $79,500 levels, which marked the beginning of the bearish zone. This decline continued until Bitcoin (BTC) bottomed out at $74,475 before attempting to recover. Despite the recovery attempt above $75,500, Bitcoin (BTC) is still trading below the 100-hour simple moving average, indicating that the selling pressure is still quite strong.

Also Read: Bitcoin plummets to $70,000, global tariff tensions trigger investor concerns

Recent Technical Analysis

In technical analysis, Bitcoin (BTC) faces immediate resistance near $77,800, which is the 50% Fibonacci retracement level of the last drop from $80,800 to $74,475. If Bitcoin (BTC) manages to break above $78,500, there is a possibility that it will attempt higher resistance at $79,500. However, there is a bearish trend line forming that could limit price gains at that level.

If Bitcoin (BTC) fails to break this resistance, further declines are likely. Immediate support is at $75,750, followed by major support at $74,750. A drop below this could take Bitcoin (BTC) to the $73,500 zone, and if the selling pressure continues, the next target is $72,000.

Potential Scenarios for Bitcoin

The market is currently showing that there is high uncertainty. If Bitcoin (BTC) manages to break the $79,500 resistance, this could be a bullish signal that would push the price towards $81,500 and possibly up to $82,000. However, technical indicators such as MACD and RSI show that bearish momentum is still dominant, which could hamper any attempts at price recovery.

The support and resistance levels that have been identified are key to determining the next direction of Bitcoin (BTC). Investors and traders should monitor these levels closely to make the right investment decisions amidst volatile market conditions.

Conclusion: The Future of Bitcoin

With the current market conditions, it is important for investors to remain vigilant and prepare for the worst-case scenario. While there is potential for a recovery, the risk of a further decline cannot be ignored. Keeping an eye on technical indicators and support and resistance levels will be crucial in the coming days.

Also Read: Can Dogecoin (DOGE) Price Reach $100? Check out the Technical Analysis!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.

Reference

• NewsBTC. Bitcoin Price Could Tumble To $7.5K If This Support Gives Way. Accessed on April 10, 2025
• Featured Image: Generated by AI