🚨Bitcoin slides 5% testing local lows near $84k level

The price of the largest cryptocurrency, Bitcoin, is down more than 5% today to around $84,000, testing levels that were observed - and defended - in December and earlier in November last year. The broader crypto market is also under pressure: Ethereum is retreating about 6% to roughly $2,850, while smaller altcoins are falling even more sharply.

Outflows from U.S. spot ETF products, limited buying activity from corporates accumulating Bitcoin, and Bitcoin’s disappointing performance versus equity indices — and especially versus precious metals — are pushing global capital’s attention away from crypto. In line with the post-halving cycle narrative, Bitcoin set a local peak in October and, if that marked the top of the bull run, prices could potentially fall toward $50,000 by the end of this year.

Bitcoin (D1)

The RSI is slipping toward 35, pointing to conditions that are increasingly close to oversold, while the MACD has printed another bearish crossover. Price is currently trading about 20% below the 200-session EMA200 (red line). The latest downside move was recently halted at the 38.2% Fibonacci retracement of the decline from October 2025 (from around $126,000). Key resistance is now seen near $91,000 (the 23.6% Fibonacci level and the area around the EMA50, orange line). The key support zone sits at $79,000–$80,000, i.e., the “correction low” from October. The next major support is near $75,000, corresponding to levels from the panic sell-off in April 2025.

Source: xStation5

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