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?

Sorry Bulls, Bitcoin to Remain in Firm Downtrend Until This Key Event Occurs

Cole Petersen
Cole Petersen
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.

Bitcoin has continued trading sideways within the lower-$7,000, with this latest bout of consolidation coming about after a failed attempt by BTC’s bulls to spark a rally yesterday. Bull’s inability to sustain any significant upwards momentum points to underlying weakness amongst buyers and may signal that further losses are imminent.

It is important to note that Bitcoin still remains caught within a firm downtrend, and one analyst is noting that this trend is unlikely to change until BTC breaks above a key resistance level.

Bitcoin Stuck at $7,300 as Bulls and Bears Remain at an Impasse 

At the time of writing, Bitcoin is trading down roughly 2% at its current price of $7,300, which marks a slight retrace from its daily highs of over $7,500 that were set yesterday at the height of the fleeting rally.

It is important to note that Bitcoin’s buyers have attempted on multiple occasions over the past several days and weeks to generate some upwards momentum, with each attempt being swiftly halted by the insurmountable resistance that exists within the mid-to-upper $7,000 region.

In the near-term, analysts are noting that yesterday’s rally simply marked a lower high, and that the crypto won’t be able to generate any sustainable momentum until it breaks above $7,800.

Josh Rager, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, noting that this current price action could simply mark an accumulation phase.

“$BTC Needs to break above $7800s and close above for me to feel bullish about a possible trend reversal. Until then, price continues to range with possible accumulation (over five weeks in this range). So far, price possibly just made another lower-high today,” he explained.

Bitcoin BTC bear market

Bear Market Remains Firm Until BTC Breaks Above This Key Level

Although $7,800 may be one key level that bulls need to push Bitcoin above in the near-term, it is important to note that the crypto remains stuck within a descending channel, which will keep BTC in a firm downtrend until bulls push it above the upper channel boundary.

TraderXO, a popular cryptocurrency analyst on Twitter, spoke about this in a recent tweet, saying that the bottom likely isn’t in until this upper boundary is firmly broken above.

“$BTC – Apparently they say the lows are in after a few weeks of consolidation… Might want to zoom out a little, break the channel and reclaim 8k first,” he explained while pointing to the charts seen below.

https://twitter.com/traderx0x0/status/1211639645781602306?s=21

 

The coming days and weeks may offer insight into the strength of this descending channel, as it could potentially spark significantly further losses if it continues holding strong into the new year.

Featured image from Shutterstock.
Tweet123Share220ShareSend
Cole Petersen
Cole Petersen

Cole Petersen

Cole is a cryptocurrency analyst based in Los Angeles. He studied at the University of California Irvine and has been interested in Bitcoin and the crypto markets since 2013.

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

Crypto Treasury Stocks Take a Fall After New Investments, Bringing PEPENODE’s Presale Into the Spotlight

Crypto Treasury Stocks Dump After New Investments, Bringing PEPENODE’s Presale Into the Spotlight

Crypto treasuries lose stock value after announcing new crypto investments, while Bitcoin took a dive to $111,676. Helius Medical Technologies...

Aaron Walker 1 hour ago
Dogecoin news

21Shares’ Spot Dogecoin ETF Hits DTCC—Will It Ignite A Rally?

21Shares’ proposed spot Dogecoin ETF has appeared on the Depository Trust & Clearing Corporation’s public “Exchange Traded Funds — Active...

Jake Simmons 2 hours ago
Memecoins krenta, tačiau Snorter Bot toliau ieško naujų galimybių – ICO pasiekė $4 mln.

Memecoins krenta, tačiau Snorter Bot toliau ieško naujų galimybių – ICO pasiekė $4 mln.

Telegram pagrindu veikiantis prekybos botas Snorter Bot Token (SNORT) savo ICO metu surinko 4 mln. USD, nors platesnė meme monetų...

Tomas Jankūnas 2 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

snorter bot token

Μόλις 27 ημέρες απομένουν πριν κλείσει η προπώληση του Snorter Bot Token – Η πρώιμη πρόσβαση δεν θα διαρκέσει πολύ

Ιωάννης Ριζόπουλος 51 minutes ago
ethereum-stablecoins-pepenode-maxidoge

Ethereum chute, mais la market cap des stablecoins explose : vers un redéploiement de capital ?

guillaumev 1 hour ago
Биткоин и график

Strategy инвестирует $100 млн в Биткоин – институционалы укрепляют рынок

daria 1 hour ago

Premium Sponsors

Press Releases

  • Най-добрите мемекойни за...

    2 hours ago
  • Najlepsze memecoiny do kupienia, gdy kapitalizacja rynku memów zbliża się do 80 miliardów dolarów

    Najlepsze memecoiny do kupienia, gdy kapitalizacja rynku...

    2 hours ago
  • Altcoin sezóna je tu. Tyto tři faktory mohou pohánět rally

    Altcoin sezóna je tu. Tyto tři faktory mohou pohánět...

    2 hours ago
  • Najlepsze altcoiny do kupienia, gdy cena Solany zbliża...

    2 hours ago
  • Altcoin sezóna je tu. Tieto tri faktory môžu poháňať rally

    Altcoin sezóna je tu. Tieto tri faktory môžu poháňať...

    3 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.