As of February 28, 2025, Bitcoin (BTC) is trading at $80,434, reflecting a decline of approximately 5.45% from the previous close.
Key Support Levels( As per publicly available data):
$82,000: A critical support level; a drop below this may lead to further declines.
$80,083: Identified as a pivotal support point; breaching this could trigger sharper downward movements.
$79,726: Considered a strong support level; falling below may indicate a bearish trend.
Market Sentiment:
Recent events, such as significant outflows from spot Bitcoin ETFs and a major $1.5 billion hack of the ByBit exchange, have contributed to increased selling pressure.
Recommendation:
Given the proximity to key support levels and the current market volatility, it may be prudent to hold your position rather than selling at a loss. Selling now and repurchasing at the same price does not offer a strategic advantage. Consider monitoring the market closely and consult with a financial advisor to make an informed decision based on your individual circumstances.
