Why is Bitcoin price down today?
Bitcoin may drop toward the range low at $78,200 range in the coming days if it loses the key support provided by the 200-day EMA trendline.
Bitcoin’s
$83,830
Price has dropped by over 5% over the last 24 hours to $88,100 after President Donald Trump’s US Strategic Bitcoin Reserve failed to meet expectations.
Key takeaways:
Bitcoin’s drawdown follows US President Donald Trump’s announcement for a Strategic Bitcoin Reserve.
More outflows from spot Bitcoin ETFs.
Bitcoin price must hold above a key support area to avoid a deeper correction.