Bitcoin struggles below $30k, next support at $27k

CoinDesk Analysis Team CoinDesk

Bitcoin (BTC) sellers were active during Asia hours as the world’s largest cryptocurrency dipped below $30,000 for the first time in four weeks. The next level of support is seen at $27,000, which is a 60% retracement of the March 2020 low.

Intraday charts appear oversold, which could stabilize some selling pressure. However, upside appears limited below $34,000 given strong overhead resistance.

Bitcoin was trading around $29,600 at press time and is down 5% over the past 24 hours.

Bitcoin daily price chart shows support and resistance levels with RSI.
Source: TradingView

The relative strength index (RSI) on the daily chart is approaching oversold levels. The bullish divergence, defined by higher lows in the RSI from May 19, failed to encourage buying beyond the $36,000 resistance level.
Bitcoin remains in an intermediate-term downtrend which began in April and is seen by the downward sloping 50-day moving average.
The weekly chart is not yet oversold, which means sellers are in control as upside momentum fades.

Author

CoinDesk Analysis Team

CoinDesk

CoinDesk is the media platform for the next generation of investors exploring how cryptocurrencies and digital assets are contributing to the evolution of the global financial system.

XRP sell-off deepens amid weak retail interest, risk-off sentiment

Ripple (XRP) is edging lower around $1.36 at the time of writing on Wednesday, weighed down by low retail interest and macroeconomic uncertainty, which is accelerating risk-off sentiment.

Crypto Today: Bitcoin, Ethereum, XRP extend sell-off amid negative funding rates

Bitcoin is down 15% in February and looks poised to extend its losses toward the yearly low of $60,000. Ethereum and Ripple are following in Bitcoin's footsteps, weighed down by a weak derivatives market.

Hyperliquid tests key support as sell-side pressure intensifies

Hyerliquid (HYPE) drops to its 50-day Exponential Moving Average (EMA) at $28.85 at the time of writing on Wednesday, extending a decline of roughly 10% so far this week.

Stellar Price Forecast: XLM risks revisiting $0.136 as sell-off continues

Stellar is trading below $0.160 at the time of writing on Wednesday, extending its correction for the fifth consecutive day. The bearish price action is further supported by rising short bets and declining Open Interest in the derivatives market.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: The worst may be behind us

Bitcoin (BTC) price recovers slightly, trading at $65,000 at the time of writing on Friday, after reaching a low of $60,000 during the early Asian trading session. The Crypto King remained under pressure so far this week, posting three consecutive weeks of losses exceeding 30%.