The crypto market has dropped by 6.15% in the past 24 hours, returning to $3.36 trillion. This downturn includes a significant 5.60% decline in Bitcoin, which has lost its $2 trillion mark valuation.
As #Bitcoin dips below the $100,000 mark, market fear intensifies, driving the Fear and Greed Index down to 54. With rising liquidations and a sudden shift into a bearish trend, Bitcoin’s decline signals a possible pullback to $90,000.
Bitcoin Price Analysis
The 4-hour Bitcoin chart shows a failure to break above the $102,557 supply zone, leading to a sharp pullback below the $96,000 mark.
Currently, Bitcoin is trading at $95,846, breaking below its 200-EMA line on the 4-hour chart. This has caused a significant pullback in the 4-hour RSI, reflecting increased selling pressure.
Additionally, the downturn in the 20-EMA line suggests upcoming bearish crossovers between the average lines. Overall, technical indicators signal a bearish outlook amid the ongoing crypto market crash.
