#اخبار_الكريبتو_العاجلة #عملات_رقمية #اقتصاد_رقمي #اقتصاد_رقمي $XRP
The price of Bitcoin has fallen by more than 2%, settling at approximately $87,000.
The daily trading volume of Bitcoin has seen a significant increase of over 70%.
The liquidation of assets in the Bitcoin market reached $103.77 million.
The cryptocurrency market has been experiencing sharp fluctuations recently. On December 23, the market lost 2% of its value amid a climate of concern and anticipation prevailing in the digital asset market. At the same time, Bitcoin (BTC), the largest cryptocurrency, is facing strong resistance and is stuck in a phase of volatility.
The price of Bitcoin has decreased by more than 2.1%, breaking through key support levels. Daily trading opened at $90,501 and then fell to around $87,061. With the increasing strength of sellers, the price is expected to see further declines.
As of writing this report, the price of Bitcoin is around $87,409, with daily trading volume up by over 70.13%, reaching $45.22 billion. Over the past twenty-four hours, the market has seen a liquidation of $103.77 million worth of Bitcoin, according to Coinglass data.
The chart on AliExpress shows that the current price structure of Bitcoin mimics the cycle of 2021. At that time, the price peaked near $69,000, followed by a sharp correction after a distribution phase. By 2025, Bitcoin shows a similar pattern after peaking near $126,000, with strong rallies, a decline in momentum, and the formation of a potential collapse zone.
Is Bitcoin facing the risk of a sharp decline?
The price of Bitcoin continues to trade within the bearish trend range and may drop towards the support level at $87,500. If the bearish correction intensifies, it could lead to the emergence of a 'death cross' pattern. Gradually, sellers will push the price of Bitcoin below the $87,435 level.
Assuming a bearish trend reversal gaining upward momentum, the price of Bitcoin may rise to the initial resistance level at $87,700. With continued upward pressure, a 'golden cross' pattern may form, pushing the price towards $87,869 or even higher.
BTC chart (Source: TradingView)
The Moving Average Convergence Divergence (MACD) line for Bitcoin is below the signal line, indicating a strong bearish trend. The wider the gap between the two lines, the greater the bearish pressure. Notably, the Chaikin Money Flow (CMF) at 0.02 indicates slight buying pressure in the Bitcoin market. Additionally, the inflow of capital slightly exceeds outflows, indicating weak accumulation.
The Bitcoin Buying and Selling Pressure (BBP) reading at -1,470.76 indicates strong bearish dominance, with the price trading below it. This reflects significant selling pressure and weak participation from buyers. Additionally, the daily Relative Strength Index (RSI) at 45.31 indicates a neutral trend slightly leaning towards bearish. Bitcoin is neither in overbought nor oversold territory. Moving above the 50 level reinforces the upward trend, while dropping to the 30 level increases bearish pressure.$SOL
