- BTC’s 18.47% weekly drop erased $660 billion in market cap, causing $3.68B in liquidations.
- Trendline analysis shows a potential market downturn in 2025 if BTC follows past patterns.
- A drop below $72,000 could push BTC toward $53,000, leading to further market volatility.
Bitcoin (BTC) fell below $80,000 on February 28 and has recorded an 18.47% dip over the past week. This sharp decline has erased over $660 billion in market capitalization across the broader crypto market. Moreover, $3.68 billion in liquidations occurred during the same period, further pressuring investors.
Bitcoin Trendline Analysis
According to technical analysis, Bitcoin’s price has historically declined each time it approaches a key trendline. This pattern has raised concerns about a potential market downturn in 2025 if historical trends hold. Analysts suggest Bitcoin may retest this trendline before another sharp drop, consistent with previous cycles.
Nonetheless, trendline analysis indicates further declines if the selling pressure on Bitcoin continues. This trendline has been used to predict market corrections, and investors are keen to see whether it will happen again.
As of press time, Bitcoin (BTC) is trading at $81,577, reflecting a 5.30% decline in the last 24 hours and an 18.23% drop over the past 7 days. The cryptocurrency has seen significant trading activity, with a 24-hour trading volume of $78.93 billion.
With a circulating supply of 19.83 million BTC, Bitcoin holds a market capitalization of approximately $1.61 trillion. Despite recent price dips, its market cap remains substantial, reflecting its position in the broader crypto market.
Related: Bitcoin Falls 17.7% to $79K Breaking Key Market Levels
Bitcoin Key Support Levels
Key support levels will play a crucial role in determining Bitcoin’s next price movement. Based on Rover’s analysis, if Bitcoin falls below the $72,000 mark, it could decline further toward $53,000. This would signal a deeper correction that would further fuel volatility in the market.
Bitcoin’s price volatility remains a key concern, and investors should cautiously approach the market. Trendline analysis suggests a high probability of further volatility and a potential market reversal. Therefore, traders should stay alert and adapt to evolving market conditions.
