- Bitcoin price dropped to 28,600, the lowest since January 4.
- It managed to recover levels above $30,000, but still remains under pressure.
Bitcoin price tumbled to $28,600, hitting the lowest level since January 4. The level is more than 50% below the April record high. So far, BTC/USD has been able to recover the 30K area but still remains under pressure. A consolidation below $30,000 would point to more losses ahead.
BTC/USD is falling by “just” 4.02% at the moment, trading at $30,081. It moved off lows but still remain under pressure. A recovery could face initial resistance at $31,150 followed by $33,300. For the negative short-term negative perspective to ease, BTC needs to break a downtrend line, currently around $34,500. A firm break above would alleviate the bearish pressure.
On the downside, under $30,000, the next level to watch is the $28,600 zone; the recent low, and the late January floor. A break lower could increase volatility and could lead to an eventual decline to the strong support area of $20,000. Under $28,600 support levels emerge at $27,450; $25,850 and $24,350.
BTC 4-hour chart
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended Content
Editors’ Picks
GENIUS Act advances in the US Senate, the first US federal framework for regulating stablecoins
The US Senate took a major step toward regulating stablecoins on Monday night by voting 66-32 to advance the GENIUS Act. The vote overcomes a Democratic-led filibuster and clears a key procedural hurdle.
SEC Commissioner Hester Peirce says most crypto assets are not securities
Crypto Task Force leader Hester Peirce highlighted in a speech on Monday how the Securities & Exchange Commission (SEC) defines various crypto assets under securities laws.
Solana set for a consensus switch with the introduction of Alpenglow
Solana (SOL) showed signs of recovery in the American trading session on Monday following the introduction of a new consensus protocol, Alpenglow, which would replace the network's current Proof-of-History and TowerBFT mechanisms.
Ethereum Price Forecast: ETH products see increased inflows, but rising shorts slow momentum
Ethereum (ETH) trades around $2,500 on Monday following mixed signals across its on-chain metrics. While strong buying pressure is visible across ETH products and whale balances, hedge funds and traders are boosting their short positions.
Bitcoin: BTC stabilizes near $103,000 amid trade optimism, rising institutional demand
Bitcoin (BTC) price stabilizes at around $103,000 when writing on Friday, after facing multiple rejections at the key $105,000 resistance level throughout the week.
The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.