Bitcoin ($BTC) Crash Analysis

Recent Performance

• Cumulative decline: 8% on Wednesday and Thursday.

• Current price: $$ 95.000 (Friday).

• Possible future decline: Initial target at $$ 89.400 and potentially $$ 73.000.

Factors in the Decline

1. Fed Decision

• Jerome Powell announced a 25 basis point Fed rate cut.

• Indicated only two rate adjustments in 2025.

• Additional promises could accelerate markets and increase inflation.

2. Federal Reserve Forecasts

• Most members project rate hikes, but the Fed’s track record of getting it right is limited.

3. Spot Bitcoin ETF Outflows

• Record outflow: 6.71K BTC on Thursday.

• Ended 15-day streak of positive net inflow.

Technical Analysis

Short-Term

• Ascending Channel:

• Bitcoin broke out of the pattern, reaching the 0.786 Fibonacci level at US$ 95.000.

• Next target: US$ 89.400.

Long-Term

• Bearish Scenario:

• If it breaks US$ 89.400, it could reach US$ 73.000.

• Significant support level at US$ 73.000 to limit further declines.

Indicators

• Stochastic RSI:

• Indicates that momentum is nearing a bottom.

• Possible upside movement soon, but trend direction still uncertain.

Summary

Bitcoin faces a turning point. While an upside move may occur soon, it is unclear whether it will sustain the uptrend or confirm a bearish reversal.

Disclaimer: This content is for informational purposes only and does not constitute financial or investment advice.

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