The year 2025 has not exactly gone as planned for the crypto industry, as Baissearted pressure continues to enclose the market. After the last decline that shook the crypto market, the Bitcoin price is now traded almost 25% during its highest time.
According to data from coytecko, the price of Bitcoin is down by about 12% in the last seven days. What is worse is that the latest price information indicates that the decline may not yet be over for the foremost Cryptocurrency.
The current prospects of BTC price
In a February 28 post on social media platform X, crypto analyst Ali Martinez Post Another baisse -like view of the Bitcoin Prize in the current market relationship. According to internet pounds, the price of BTC can fall against $ 74,700 to find relief from the ongoing correction.
The motivation behind this prediction is the movement and the crucial nature of the 50-week sliding average on the Bitcoin Weekly diagram. Martinez noted that the price of BTC historically tends to find support and bounce over this long -term sliding average.
Source: Ali_charts/X
As shown in the diagram above, the Bitcoin Prize has experienced deep corrections in previous cycles, which often bounce off the 50-week sliding average. Most recently, the flagship Cryptocurrency found support in the variable average in July 2021, and recovered to the then high of about $ 62,000 before reaching $ 67,737 bicycle peak.
Going with this Historical preferenceIt seems that the Bitcoin price may risk further movement downwards, with the next support about $ 74,700. But if this crucial level of support holds strong, the market leader can bounce back to its previously high price and even beyond.
On the back, if the price of BTC violates the 50-week sliding mean to the underside, the main Cryptocurrency may be in for a longer correction period. With the help of previous cycles as a template to analyze this baisal present case, the Bitcoin price risks starting its bear market if it breaks the 50W -moving average.
In the last cycle-after breaking over the 50-week sliding average, the price of bitcoin dropped from about $ 68,000 to less than $ 17,000-a decline of 75%in about a year. However, it is worth mentioning that this decline may have been exaggerated due to the collapse of Terra Luna and the FTX exchange in 2022.
Bitcoin price
From this writing, BTC’s price Sitting just above $ 85,200 brand, which reflects any significant change over the past 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Image from iStock, chart from tradingview
