NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin, Ethereum, And XRP In Freefall: What’s Driving The Current Crypto Slump?

What’s the Key Level to Watch for Bitcoin (BTC) Price?

Nick Chong
Nick Chong
1 year ago
2 mins read

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

On Thursday, Bitcoin bears continued to ravage the cryptocurrency market. According to CoinMarketCap, the leading cryptocurrency has incurred another 4% loss of the past 24 hours, falling to under $8,000 for the first time in months.

Realted Reading: No US China Trade Deal Says Morgan Creek CEO, Better Buy Bitcoin

While this devastating drop was forecasted by analysts like Peter Brandt, this move caught most investors aback, as made abundantly clear by the $550 million in BitMEX long liquidations observed on Monday.

With Bitcoin entering a brief price lull right now, you may be wondering — what BTC price level should I be watching right now?

Don’t worry, NewsBTC has you covered.

All Eyes on $7,700 for Bitcoin

To get straight to the point, $7,700 is the most important price point for Bitcoin investors at the moment. Around this level — which is nearly 50% below the $13,900 peak seen in June — sits a confluence of integral technical support levels.

These include but aren’t limited to the 200-day moving average; the 365-day exponential moving average, a level that Bitcoin bounced straight off of during mid-2017; the 50-week exponential moving average, among other levels that many say are indicative of Bitcoin’s medium-term trends.

https://twitter.com/Crypto_Buzz_247/status/1177277301358071808

Analyst Crypto Buzz has stated that a loss of this level is likely to cause “nasty dump to around $6,500”, a level which many believe will act as the bottom of this bull market consolidation. $6,500 is, of course, where BTC famously traded around for months on end during the middle of 2018.

Crypto Hamster has even gone as far as to say that a loss of $7,700 without a strong recovery may be a clear sign that the “bull market is over”. This, of course, might be the most dramatic of takes on the recent cryptocurrency price action.

But one thing is for certain: a loss of $7,700 may spell disaster for bulls at least for the next month or two.

Related Reading: Bitcoin, the Best Performing Asset Ever, is “Still Very Cheap”: Prominent Investor

Macro Trend Positive

So sure, a further unwinding of the cryptocurrency market is likely on the table. However, it is important to note that Bitcoin is believed to still be in a macro bull trend, no matter what cynics and emotional investors may be spouting on Twitter.

In fact, Mark Yusko, the chief investment officer of Morgan Creek Capital Management, recently took to CNBC’s “Fast Money” panel to only assert that Bitcoin isn’t going anywhere. He remarked:

“Look, the daily price of Bitcoin doesn’t matter. It’s been alive for ten years. Save for one year, 2015, it has made a higher lower [each and every year]; BTC’s market capitalization has grown every single year.”

The implication here, of course, is that he expects for Bitcoin’s rampant price appreciation trend to continue. Yusko went on to note that the fundamental metrics back this, citing continual growth in the number of transactions, hash rate, realized value, and more to prove Bitcoin is stronger than ever before. 

Related Reading: Crypto Analyst: Under $5,000 Bitcoin Now A Possibility
Featured Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

迷因幣回檔 Snorter Bot Token 持續捕獵新機會 ICO 募資已破400萬美金

基於 Telegram 的交易機器人Snorter Bot Token (SNORT)在大盤迷因幣降溫的背景下,依然在 ICO 階段完成 400 萬美金募資。 投資者之所以持續加碼,是因為 Snort...

estherw 2 hours ago
Solana

From Store Of Value To DeFi Powerhouse: Solana Unlocks Bitcoin’s True Utility — Here’s How

Bitcoin has been celebrated as digital gold and a secure store of value with limited functionality, but Solana’s high-speed, low-cost...

Godspower Owie 2 hours ago
Crypto news

Crypto Bloodbath Shakes Market—But Is The Real Storm Still To Come?

Crypto absorbed its largest liquidation shock of 2025, with the heaviest single-day wipeouts since summer 2023 for ETH and SOL...

Jake Simmons 3 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

bitcoin-consolidation-zone-revealed-hyper-raises-17-5m-layer2-tw

比特幣價格盤整關鍵區間曝光 HYPER預售狂吸1,750萬美元成Layer 2潛力新星

Mark Mak 22 minutes ago
Bitcoin Price Dips Again

Bitcoin Price Dips Again – Could This Spark Panic Selling Across Crypto Market?

Aayush Jindal 46 minutes ago
dogecoin-x5-prevente-maxi-doge

Grayscale Files For New Dogecoin ETF Amid Approval Expectations, Is The Next Price Surge Coming?

Sandra White 1 hour ago

Premium Sponsors

Press Releases

  • 5 mincí, které by v kryptobublině v roce 2025 mohly dosáhnout 10 miliard dolarů

    5 mincí, které by v kryptobublině v roce 2025 mohly...

    8 hours ago
  • 5 érme, amelyek 2025-ben elérhetik a 10 milliárd dollárt a kriptobuborékban

    5 érme, amelyek 2025-ben elérhetik a 10 milliárd...

    9 hours ago
  • 5 monet, które mogą osiągnąć 10 miliardów dolarów w bańce kryptowalutowej w 2025 roku

    5 monet, które mogą osiągnąć 10 miliardów dolarów w...

    9 hours ago
  • 5 монети, които биха могли да...

    10 hours ago
  • Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti tržišnu vrijednost od 10 milijardi dolara

    Pet kriptovaluta koje u kripto balonu 2025. mogu dosegnuti...

    11 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.