Bitcoin struggles below $83,000 as market sentiment deteriorates
Press Hub UCapital
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Bitcoin’s momentum continues to fade, with BTC/USD hovering near $83,000, down 23% from its all-time high of $109,000 in December, officially entering bear market territory. Lackluster buying interest, fading optimism over Trump’s pro-crypto stance, and technical weakness have left traders cautious, with digital assets facing sustained downward pressure.
The initial excitement surrounding Trump’s administration and potential crypto-friendly policies has turned into disappointment, as the lack of clear regulatory direction keeps investors on edge. The administration’s crypto working group has yet to deliver any concrete regulatory framework, leaving markets in limbo. Meanwhile, Bitcoin’s break below the 200-day moving average raises concerns that the asset could face further downside risk, with bearish sentiment intensifying.
Ethereum (ETH/USD) has plunged below $1,900, marking a 55% drop from its December peak of $4,100. Other major altcoins are also under pressure, with XRP (XRP/USD) trading near $2.20-$2.30 and Solana (SOL/USD) slipping under $130.
Looking ahead, Bitcoin’s ability to hold support near $80,000 will be crucial. A sustained drop below this level could accelerate selling pressure, while a strong bounce could signal stabilization. Market participants will closely watch regulatory updates, macroeconomic conditions, and technical support levels for the next directional move. Until clear catalysts emerge, crypto markets remain vulnerable to further volatility.
The initial excitement surrounding Trump’s administration and potential crypto-friendly policies has turned into disappointment, as the lack of clear regulatory direction keeps investors on edge. The administration’s crypto working group has yet to deliver any concrete regulatory framework, leaving markets in limbo. Meanwhile, Bitcoin’s break below the 200-day moving average raises concerns that the asset could face further downside risk, with bearish sentiment intensifying.
Ethereum (ETH/USD) has plunged below $1,900, marking a 55% drop from its December peak of $4,100. Other major altcoins are also under pressure, with XRP (XRP/USD) trading near $2.20-$2.30 and Solana (SOL/USD) slipping under $130.
Looking ahead, Bitcoin’s ability to hold support near $80,000 will be crucial. A sustained drop below this level could accelerate selling pressure, while a strong bounce could signal stabilization. Market participants will closely watch regulatory updates, macroeconomic conditions, and technical support levels for the next directional move. Until clear catalysts emerge, crypto markets remain vulnerable to further volatility.