Bitcoin Just Erased All of Its 2025 Gains—And the 'Picture Remains Fragile', Says Analyst
Bitcoin has erased all its 2025 gains, falling below $93,000 for the first time in nearly seven months. Analysts highlight the breach of the 50-week moving average and bearish sentiment regarding a potentially delayed four-year cycle as key contributors to this downturn. Currently priced at $92,123, Bitcoin has dropped 2.3% in the past day and about 13% within the week, with trading volume exceeding $114 billion. Approximately $335 million worth of Bitcoin derivatives contracts were liquidated in the past day, contributing to total crypto market liquidations of $725 million. Analysts at QCP Capital stress that breaking below the significant $92,000 support level raises caution across digital asset markets. The U.S. government shutdown has further impacted market liquidity and investor confidence. Despite some predictions of a potential bounce due to a technical CME gap at around $92,000, analysts warn of dense overhead supply and macro uncertainties that could limit recovery. Observers note a shift in trading behavior as some traders adhere to traditional selling patterns amidst falling prices, affecting crypto's overall performance.
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