Significant changes have been observed in the Bitcoin (BTC) market over the past week. The price has dropped from $105,984.74 to $93,186.34, which indicates a decrease of approximately 12%.
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📊 Weekly Price Movements
Starting Price (December 16, 2024): 105,984.74 USD
Highest Price: 107,756.84 USD
Lowest Price: 93,186.34 USD
Current Price (April 27, 2025): 93,186.34 USD
During this period, the BTC price has decreased by 12%.
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📈 Technical Indicators and Trends
200-Day Moving Average: BTC is trading above this level, indicating a long-term bullish trend.
RSI (Relative Strength Index): Above 50, indicating moderate buying pressure in the market.
Key Support Level: 85,000 USD
Key Resistance Level: 100,000 USD
Technical analyses indicate that BTC is trading above the 200-day moving average and the RSI is above 50, suggesting moderate buying pressure in the market. The key support level is set at 85,000 USD, while the key resistance level is determined at 100,000 USD.
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🌐 Fundamental Factors
US-China Trade Tensions: President Trump's intention to reduce tariffs and the announcement that the Federal Reserve Chair will remain in office have created a positive market sentiment.
US Crypto Strategy: A strategic Bitcoin reserve has been created by an executive order signed by President Trump, which has increased institutional interest.
Growing Interest in ETFs: Interest in Bitcoin ETFs has increased, which enhances liquidity and stability in the market.
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📌 Conclusion and Forecast
The observed decrease in BTC price over the last 7 days is explained by technical and fundamental factors. Technical indicators and market news suggest that BTC may retest the $100,000 level in the near future. However, strong buying pressure and positive market sentiment are required to surpass this level.