February 28, 2025 05:46:55 UTC
Bitcoin News Today : BTC Price Crash Below $80K
Bitcoin’s spot volume surged around the $100K mark, but during distribution phases, prices tend to drop when new liquidity dries up. The key question now is where fresh liquidity will come from to sustain a bullish trend. With limited new liquidity entering the market, an extended consolidation within a wide range ($75K-$100K) seems likely, similar to early 2024. This range-bound movement could persist until favorable news for Bitcoin triggers new liquidity inflows.
February 28, 2025 05:46:55 UTC
What Happened To Crypto Today?
Bitcoin (BTC) fell below its 200-day simple moving average (SMA) on Friday, marking a 16% weekly loss and briefly dipping below $80,000 for the first time since November 10. The decline was fueled by renewed concerns over U.S. tariffs, which boosted demand for the U.S. dollar. Altcoin like XRP, Solana (SOL), and DOGE saw even steeper losses, with XRP dropping below the 23.6% Fibonacci retracement level. President Trump’s announcement of tariffs on Canada, Mexico, and China further fueled the rise in the dollar, pushing the dollar index to 107.30.
