Bitcoin experienced a dramatic drop today, plunging approximately $4,000 within a short timespan, marking its lowest point in 17 days. This downturn was anticipated following the latest news regarding tariffs imposed by President Trump.

Market Reaction

Over the weekend, the cryptocurrency market appeared stable, but as trading resumed on Sunday, prices fell significantly. This echoed previous incidents, particularly the fall observed from $67,800 to a low of $64,350, currently stabilizing near $66,000.

In light of potential further declines, key support levels have been identified by analysts, including:

• $58,500
• $54,440
• $41,500

According to analyst Ali Martinez, the cost basis for BTC holders highlights these crucial thresholds, with the following details:

Bitcoin $BTC holder cost basis highlights three key support levels: • $58,467
• $54,439
• $41,488

This significant liquidation has resulted in nearly $500 million in liquidated positions, with the majority stemming from long trades. Market analytics from Santiment indicate a drop in open interest to $19.5 billion, a stark contrast from the January peak of $38.3 billion.

The market sentiment has shifted rapidly, with investors expressing caution which could lead to a potential rapid rebound in prices.

Related Articles

• The Fastest Bitcoin (BTC) Crash Is Over, But the Worst Is Yet to Come
• Bitcoin Price Pullback: How Whales and Retail Investors Are Reacting
• ‘Bitcoin Is Dead’ Searches Hit New Highs: Is the Bottom In?

BTC Latest Crash Review From Santiment BTC Latest Crash Review From Santiment