Bitcoin drops 15% in four days, retests key 200-week SMA as analysts warn of potential further decline
By
Rubmar Garcia
7d ago· 4 min readenNews
85/100
Golden Brown
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Fresh out the oven, still warm. Top of the tray.
Score85TypenewsSentimentnegative
Summary
Bitcoin has fallen 15% over four days and is attempting to reclaim the $64,000 support level after trading in a $64,000-$82,000 range since early February. Market analysts warn the cryptocurrency may be repeating its 2022 bear market playbook, with the price retesting the key 200-week Simple Moving Average (SMA) — a critical technical level that has historically marked turning points. Some analysts suggest a potential drop to $54,000 could be next if support fails.
Key quotes
· 3 pulledBitcoin is attempting to reclaim the $64,000 level as support.
The flagship crypto had been trading between $64,000-$82,000 since the early February crash.
Some market watchers have warned that the leading crypto may be preparing for another major drop as it retests a critical technical area that has historically marked a turning point.
While Bitcoin tshows weakness, some analyst warn that the flagship crypto may be repeating its previous bear market playbook.
