Cryptocurrencies Crash: Bitcoin Falls Again

BTCUSD

Bitcoin dropped in the morning trading sessions, breaking below the $102,500 zone. Accordingly, prices are likely to target the support zone of $97,500. This scenario would be invalidated if the resistance zone of $102,000 – $102,500 is breached to the upside in today’s trading.

Bitcoin experienced a significant decline in value today, dropping below $100,000 with a decrease of 4.85%, settling at $99,963.46.

This drop is attributed to profit-taking by investors following the recent upward trends in the cryptocurrency. Additionally, traders are anticipating the first meeting of the Federal Open Market Committee under U.S. President Donald Trump’s administration, adding to the uncertainty in the markets.

From a technical perspective, Bitcoin has broken the psychological support level at $100,000, which may indicate further selling pressure in the coming days. However, the overall trend remains bullish, especially after the strong gains achieved recently, with the cryptocurrency exceeding $109,000 on January 20, 2025.

In conclusion, despite the current decline, the long-term outlook for Bitcoin remains positive, supported by increasing institutional adoption and expected improvements in global liquidity.

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