Bitcoin Just Erased All of Its 2025 Gains—And the 'Picture Remains Fragile', Says Analyst
Bitcoin has dropped below $93,000 for the first time in nearly seven months, erasing all its gains for 2025. Analysts cite the break below the 50-week moving average and concerns over the delayed four-year cycle as significant factors in this downturn. The $92,000 mark is identified as crucial support, coinciding with an unfilled CME gap. This substantial loss reflects a bearish sentiment in the market, with trading volume surging to $114 billion as liquidations of Bitcoin derivatives hit $335 million in one day. Analysts from QCP Capital observed that the cautious tone in the digital asset market is indicative of a shift, emphasizing the need for buyers to remain vigilant amidst current uncertainties. The U.S. government shutdown exacerbated these issues by reducing liquidity in the market. The outlook remains fragile due to macroeconomic conditions and a potential lack of confidence among investors in navigating these turbulent times.
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