**Bitcoin Plunges to $106,000, Crypto Market Turns Red 📉**
Bitcoin's unexpected drop to **$106,000** sent shockwaves through the crypto market, turning major altcoins red. However, a key technical indicator suggests a potential recovery may be on the horizon! 🚀
---
### **Market Overview**
- **#BTC** ➡️ **-0.84%**
- **#ETH** ➡️ **+0.02%**
- **#XRP** ➡️ **-0.79%**
- **#BNB** ➡️ **-2.00%**
- **#SOL** ➡️ **+0.17%**
- **#DOGE** ➡️ **-2.68%**
- **#ADA** ➡️ **-4.70%** (Biggest loser!)
---
### **What Caused the Crash?**
🔹 **Profit-taking** after weeks of Bitcoin's strong rally.
🔹 **Market-wide sell-off** triggered by BTC's sudden dip.
---
### **Bullish Signal Ahead?**
📊 The **Bitcoin Combined Market Index (BCMI)** shows early signs of recovery:
- **7-day moving average** rose to **0.6** (bullish signal).
- **90-day average** remains stable at **0.45** (no extreme greed yet).
**What does BCMI tell us?**
- **Below 0.15** = Extreme fear (buying opportunity).
- **Above 0.75** = Overexcitement (risk of correction).
💡 **Current phase suggests accumulation may begin soon!**
---
### **Key Price Levels to Watch**
📈 **Resistance:** $110,000
📉 **Support:** $100,000 → $95,000 → $80,000
🔍 **Technical Indicators:**
- **ADX (20.73)** → Some momentum, but no clear trend yet.
- **RSI (35.75)** → Near oversold, selling pressure may ease.
---
### **Expert Prediction: Bitcoin to $500K?**
💰 **Anthony Scaramucci** believes **excessive U.S. government spending** could push **BTC to $500,000** in the near future!
---
**Stay tuned—will Bitcoin bounce back or dip further?** 🤔 **#Crypto #Bitcoin #MarketUpdate**