Bitcoin is basically heading towards a breakdown. Below 80,000 can be used for a wave, with a rebound lasting about 1-2 weeks, but the height won’t be too high, probably around 6-10%. If it drops to 77,000-78,000, then the rebound will be roughly the same as the current price, so we just have to endure. Today’s volume, based on the daily chart, probably won’t exceed that of November 21, so the chance of breaking a new low and dropping straight down is not high (this is the logic for a wave rebound). After the rebound, it is very likely to continue downward to find a bottom. It’s still too early to tell; we need to observe the strength of the bottom-fishing funds. If they remain as weak as now, then it’s probably not the final bottom yet.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Strategy’s Michael Saylor Says Bitcoin Quantum Risk Remains Years Away
Michael Saylor argues that quantum computing poses a future threat to Bitcoin, but current risks like phishing are greater. He believes the Bitcoin network can adapt through software upgrades. Analyst Willy Woo expresses concern over the impact of quantum advances on Bitcoin's lost supply and valuation trends.
CryptoFrontNewsJust Now
分析：BTC逼近“历史平均换手成本”线，若失守或将进入深熊阶段
BlockBeats 消息，2 月 23 日，加密分析师 Murphy 表示，BTC 目前仍在 65,000 美元附近震荡，该位置接近 <10y\_RP 指标所在区间。该指标在剔除多数已丢失 BTC 成本影响后，被视为更贴近真实水平的「历史平均换手成本」。
该区间或为多头重要心理与成本防线。一旦有效跌破，或意味着本轮下行趋势继续走深熊路径将成为大概率事件。
GateNewsBotJust Now
XRP Faces Further Downside Risk After $435 Million in Liquidations, Bollinger Bands Warn - U.Today
The last week of February began with one of the most intense stress tests of the month for the digital assets market. According to CoinGlass, there were total liquidations of $435.64 million across exchanges over the past 12 hours, with long positions accounting for $393.43 million of that total
A
UToday8m ago
Shiba Inu (SHIB) Price Loses Ground Under $0.000006: Next Levels to Watch - U.Today
Following months of declining price action, Shiba Inu has dropped below the crucial $0.000006 level, indicating the ongoing pressure on the asset. While a collapse is not always confirmed by the breakdown, it does indicate that bulls are having difficulty defending important support areas, as the
UToday33m ago
10x Research: Ethereum enters a critical valuation range, Bitmine's massive unrealized losses highlight structural pressure
Ethereum is facing a dual test of valuation and fundamentals, and the market needs to determine whether its downturn is a cyclical bottom. Bitmine has incurred an $8.8 billion loss, and increased ETH holdings have sparked controversy, highlighting the importance of capital allocation. Investors should carefully assess Ethereum's value prospects.
GateNewsBot37m ago
Here’s Why Pippin (PIPPIN) Price Pumped 30%
Pippin's price surged over 30% to around $0.6649, driven by a significant increase in trading volume up 92% to $73.3 million. This indicates strong market activity, but sustaining interest is crucial for maintaining momentum.
CaptainAltcoin1h ago
