From Peak to Plunge: Bitcoin’s Harrowing Fall
Imagine Bitcoin, the unyielding digital gold, finally buckling under pressure—plummeting below $80,000 for the first time since April 2025. On January 31, it shattered that barrier, echoing yesterday’s chaos where a 0.4% dollar index surge dragged BTC down 4%, alongside gold’s 2.5% drop and Nasdaq’s 0.8% slip. Rumors of Walsh as new Fed chair only fueled the fire.
The Technical Storm
Now at $78,725—down 6.27% in 24 hours from a high of $84,000 to a low of $75,720—BTC screams oversold. RSI at 25.83, Stochastic under 18, and price hugging the Bollinger lower BAND signal exhaustion. Yet, it’s deep in downtrend territory, below EMA 200 ($103,958), with bearish MACD.
Why It Stings – And What’s Next
For holders, it’s heartbreak amid $39B volume frenzy. Strong support looms at $75,720 (75/100 score), but breach eyes $64k crash targets. Watch resistance at $80,357—break it for hope, or fade to multi-timeframe bears.
Takeaway: Oversold bounce brewing? Or dollar dominance dooms deeper?
Source: https://en.coinotag.com/bitcoin-throne-crumbles-sub-80k-dip-since-april-2025
