Bitcoin (BTC) Freefalls to IDR1.07 Billion: 3 Main Reasons BTC Slumped Today!

Jakarta, Pintu News – The crypto market has once again been rocked by high volatility that caused the price of Bitcoin (BTC) to experience a sharp decline, breaking through its psychological support level. You may be surprised to see the number one digital asset lose its upward momentum in a relatively short period of time amid volatile market conditions. This drop sparked concern among cryptocurrency investors, especially since it was a break of a support area that was previously considered strong enough to withstand selling pressure.

Bitcoin Selling Pressure Breaks the Level of Rp1.07 Billion

The price of Bitcoin (BTC) has seen a significant fall to below IDR 1,077,056,000 ($64,000) in recent trading. You can see the massive selling pressure in the cryptocurrency market after the asset failed to maintain its position above the key resistance level in recent days. Technical analysts consider that the breakout of this psychological level is a strong bearish signal for Bitcoin’s price movement in the short term.

Current market conditions show that distribution volume from large holders or “whales” is starting to increase compared to buying interest from retail investors. You should note that these crypto movements are also affected by global macroeconomic sentiment which tends to avoid high-risk assets amid interest rate uncertainty. If Bitcoin does not return above the Rp1.07 billion level soon, the overall market structure could turn more negative for traders.

Read More: Gold Under Threat? 5 Critical Factors that Could End Gold’s 7-Month Rally

Potential for Further Decline Toward New Support Area

After losing ground at Rp1,077,056,000, the next downside target for Bitcoin is expected to test the support area around Rp1,043,398,000 ($62,000). You should be wary as failure to hold in that area could trigger a further wave of technical selling that drags the cryptocurrency market into deeper red. Many analysts warn that the current price stability depends heavily on the ability of buyers to defend these critical levels.

Technical indicators such as the Moving Average are currently showing a fairly consistent downward pressure on the daily chart of this crypto asset. It is advisable to monitor trading volume movements closely, as an increase in volume during a price drop often signals that the correction phase is not yet fully over. A strict risk management strategy remains the most crucial thing for you to stay safe in the face of highly dynamic market fluctuations.

Recovery Scenario and BTC Price Rebound Expectations

Although the current situation in the cryptocurrency market looks quite challenging, the opportunity for a technical recovery or rebound towards the Rp1,110,714,000 ($66,000) level is still wide open. You can see that the RSI indicator is starting to approach the oversold zone, which historically is often followed by a buying spree that pushes prices back up. Bitcoin’s (BTC) success in reclaiming the $64,000 level in the daily close would be an early positive signal for the end of this downtrend.

Investor confidence in the long-term future of cryptocurrencies generally remains solid despite sharp price corrections in the short term. You should stay updated on institutional adoption and global crypto regulatory developments that could provide a fundamental boost to prices in the future. Stay objective and don’t let the emotion of panic influence your smart investment decisions.

Also Read: MicroStrategy Ready to Overtake Bitcoin? Check out the Shocking Predictions for the End of February!

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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. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying and selling Bitcoin and other crypto asset investments are the responsibility of the reader.

• Aayush Jindal/NewsBTC. Bitcoin Price Slumps To $64K: Why BTC Could Revisit $62K Soon. Accessed February 24, 2026.