#BURNGMT #AmazonBitcoinMove #BinanceMEOpening #MicroStrategyAcquiresBTC #TokenUnlocks:APT ,ADA,ENA Bitcoin (BTC) Price Analysis

Bitcoin (BTC) has significantly fallen against the backdrop of a major downturn in the cryptocurrency market, greatly increasing the losses for cryptocurrency traders. The decline can be attributed to escalating geopolitical tensions and deteriorating risk sentiment due to uncertainty over US interest rates. Additionally, after breaking through the coveted $100,000 mark, BTC faced a substantial amount of profit-taking. Traders also locked in profits from other major altcoins. The cryptocurrency market has received positive signals from several developments, such as the nomination of cryptocurrency-friendly candidates to key cabinet and regulatory positions. However, doubts have arisen about how much regulatory support Trump can provide, and analysts have dismissed the idea of establishing strategic reserves under Trump's leadership.

BTC's price chart shows that the asset has significantly declined over the past several trading days, falling below key support levels. The bullish sentiment for the asset has weakened in recent trading days, especially after reaching an all-time high last week, as traders locked in profits and geopolitical developments affected market sentiment. BTC opened lower last week, dropping 1.25% on Monday, then saw a slight decline on Tuesday, closing at $95,751, briefly falling below the 20-day moving average. However, on Wednesday, it rebounded strongly, gaining nearly 3% and closing at $98,851. On Thursday, BTC experienced unprecedented volatility, breaking through the critical $100,000 mark and reaching an all-time high of $103,900. However, buyers quickly lost momentum after reaching this level, leading to a price drop below the 20-day moving average, hitting a low of $92,285, before rebounding and closing at $97,093.