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Bitcoin (BTC) is under severe sales pressure after losing its $85,000 level a few days ago. The breakdown has brought the market to its lowest level since November 2024, increasing investor fear and uncertainty. The entire crypto market is struggling and is overwhelmed by the overall shift in negative macroeconomic conditions and risk-off sentiment.
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President Trump's policies added to volatility and instability as the fears and volatile economic decisions of the World Trade War continue to rattle investors. The US stock market has fallen to its lowest point since September 2024, further raising concerns that wider financial markets are weakening, dragging Bitcoin and other cryptocurrencies.
According to GlassNode data, Mayer Multiplier suggests that Bitcoin's next major support level is $66,000. As the current sale continues, BTC will be able to test this level in the coming weeks, marking a major revision from the recent highs.
With Bitcoin at a key point, traders and investors are closely watching whether BTC can stabilise key levels and recover, or if the downside is further ahead. The coming days are important for Bitcoin's short-term outlook.
Bitcoin is below MA of 200 days
Bitcoin has been on a consistent decline since late January, and could control investors' sentiment. Many believe the bull cycle is over as BTC continues to drop highs and break key support levels. With the installation of sales pressure, the market is under bearish control and lower targets are set by prudent investors.
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Since the US election in November 2024, macroeconomic uncertainty and volatility have been a major driving force in the market. The rising tensions in global trade, volatile economic policies and shaking of investors' trust have all contributed to the expansion and revision of Bitcoin. The US stock market is also struggling, so Bitcoin couldn't find the momentum it needed to recover.
Top analyst Ari Martinez shares insights on X, highlighting that Bitcoin is currently below the 200-day moving average, a key technical indicator that marks the direction of long-term trends. According to Mayer Multithip, the next major support level is $66,000. If BTC cannot stabilize beyond its current levels, further selling pressure could potentially send Bitcoin to this low support zone in the coming weeks.
For Bitcoin to reverse the downward trend, the Bulls will have to regain their 200-day MA to around $83,500. Take a break above this level and shows the strength to return to the market, preventing even more downsides. However, if BTC can't regain momentum, fear and uncertainty will continue to lower prices, making the next few weeks essential to Bitcoin's market structure. Bitcoin remains at a key point in defining medium-term trends, so investors are looking at price action carefully.
BTC is $85,000 for recovery
Bitcoin is currently trading at $81,700 after losing its 200-day moving average (MA) at $83,450. This is a critical technical level that previously supported bullish momentum. As BTC is now trading under this key indicator, the market is under bear pressure, and traders are closely watching signs of a potential reversal.
For the Bulls to regain control, the BTC will have to regain the $85,000 mark in the next few days. A strong push beyond this level could show new purchase interest and set the stage for a recovery rally. However, if BTC fails to exceed $85,000, the market could see even more negative side pressure.
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If BTC falls below the $80,000-$78,000 range, the chances of a decline to the next major support level are $75,000-$72,000. Such a move will reinforce bearish feelings and will slow down the chances of meaningful recovery in the near future. Bitcoin remains in a vulnerable position where key-level reclamation or deeper fixes are imminent, so the next few trading sessions will be important.
Dall-E special images, TradingView chart
