In this video I break down the latest Bitcoin price action and why the current market structure points toward further downside. By analyzing both linear and logarithmic charts, I explore how key Fibonacci levels and multi-year trend lines align to suggest a target area of 30,000 to 40,000 dollars. Video by More Crypto Online.
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Bitcoin (BTC) is trading around $61,274, recovering slightly after plunging 5% to an intraday and multi-year low of $58,000 during early U.S. trading. The sharp drop triggered a massive $1 billion liquidation cascade across the broader crypto market, crushing investor sentiment.
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Bitcoin Insights Today
-$1B Liquidation Shockwaves: Over $780 million in leveraged long positions were wiped out in 24 hours. Bitcoin alone accounted for over $413 million in liquidations.
-Massive Options Expiry: Traders are bracing for high volatility as $10 billion in Bitcoin options expire on Friday via Deribit. Because most of these options are bullish bets, traders are aggressively hedging, driving further downside pressure.
-Record ETF Outflows: Institutional flight has intensified, with U.S. spot Bitcoin ETFs recording $6.4 billion in net outflows over the last 30 days. This marks the largest monthly withdrawal period since the funds launched in 2024.
-Macro and Geopolitical Friction: Fading institutional demand is worsened by a tighter Federal Reserve stance. Geopolitical stress from stalled international talks and stricter MiCA regulatory enforcement announcements in Europe have further dampened risk appetite.
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