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Bitcoin drops over 5% for the first time in 2025

Technical Analysis
By Mostafa Mahmoud
Bitcoin drops over 5% for the first time in 2025
0 2

BTCUSD

بيتكوين 8-1-2024

Bitcoin is trading below the resistance level of $97,200, and it is likely to resume the downward movement targeting the support level of $91,070. This scenario will be invalidated if the mentioned resistance level is broken to the upside.

Support

 91070 87000 –
Resistance 97200 100750

104600

Bitcoin experienced a significant drop today, with its value decreasing by 5.91% to reach $95,665, after hitting its highest level of the day at $101,993. This decline is attributed to several factors, including the expiration of Bitcoin and Ethereum options contracts worth $2.639 billion, which led to market volatility.

Despite this drop, forecasts for 2025 remain positive, with some analysts predicting Bitcoin could reach levels between $80,000 and $200,000, supported by increasing institutional adoption and a favorable regulatory environment. However, investors should exercise caution given the ongoing volatility in the cryptocurrency market.

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Mostafa Mahmoud

Mostafa Mahmoud Technical Analyst at LDN Mostafa has half a decade of experience in the field of financial markets between technical analysis and financial portfolio management, which extends to more than one financial market between stocks, commodities, currencies and the debt markets.

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