Is BTC Price Prediction as Bulls Defend $25k a Pitfall?
The BTC price is facing increased pressure to drop towards $20k, with more BTC supply facing unrealized losses due to the “top heavy market”.
Bitcoin is down 11% in a week, hovering around $26,000 without much upside action. Short-term holders who were trading with unrealized losses before last week's BTC futures de-leveraging event could face a bleak future, considering the possibility of a prolonged decline down to 20,000 USD.
BTC bullish moves to defend support/resistance at $25,000
Without enough momentum, the bulls who did not have the courage to stay in the crash market were determined to defend the support/resistance at $25,000. Bitcoin is back trading at $25,981, slightly below the key $26,000 level after several days of accumulated losses.