ā« Bitcoin has been on a rollercoaster this past week, climbing a solid 7.6% to touch $86,200 as of April 15.
ā« The journey wasnāt smooth: the digital asset first plunged near $75,000 before soaring back with a dramatic 16% recovery.
ā« Despite this recent surge, all isnāt calm on the Bitcoin front. Technical analysis from both the hourly and four-hour charts hints that a corrective dip might be just around the corner. Adding fuel to the fire, on-chain analyst Ali Martinez took to X on April 15 with a stark warning.
š“ āHow low will Bitcoin crash?ā :::::::::::
Martinezās alarm stems from a key observationāinvestors have gathered šØ 96,580 BTC at an average price of $82,024, creating a crucial support zone for the cryptocurrency. He further identified $79,000 as another significant support level in an April 13 update, suggesting that these benchmarks might play a pivotal role in the coming market dynamics.As traders and enthusiasts watch Bitcoinās every move, the current bullish fervor is tempered by signals of potential turbulence. With critical support levels in play, the next move could define the marketās short-term trajectory. If recent market action is any indication, a drop back to $75,000 is more than just possibleāitās within striking distance. In fact, Bitcoin has already flirted with fresh 2025 lows multiple times in recent weeks, suggesting that an even deeper dive may be possible. However, the bullish scenario is far from guaranteed in large part thanks to overall market sentiment being profoundly shaken.
ā« Stay tunedāthis ride is far from over.
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