Bitcoin price has been experiencing significant volatility lately. On January 8, 2025, the price fell below the support level at $95,195, indicating a possible continuation of the downtrend towards new negative targets starting at $90,000.
Currently, Bitcoin is trading at around $94,309, down $2,728 (-2.81%) from the previous close.
Technically, breaking the mentioned support level indicates that the downside pressure on the price may continue. Investors are advised to keep an eye on critical levels such as $90,000, as a break of it could lead to further declines. On the other hand, if the price manages to recover and hold above important resistance levels, it could indicate a potential reversal in the trend.
Given the ongoing volatility in the cryptocurrency market, investors are advised to be cautious and follow technical analysis and market-influencing economic news before making investment decisions.
