Bitcoin price faced severe bearish pressure due to rising bearish domination below $85K. As a result, BTC price dropped below Fib levels and touched a new yearly-low at around $82,256. Over the past 24 hours, Bitcoin’s trading volume has increased by more than 26.2%, totalling $68.1 billion.
In a broader perspective, Bitcoin fell below $100,000 on January 7 and showed a downward trend. It reached a low of approximately $89,397 on January 13. On Feb 3, Bitcoin again crashed and reached a low near $91K. In recent days, the price has been on a severe downtrend. Over the last 24 hours, its total market capitalization dropped by 2.58%, settling at $1.68 trillion.
Bitcoin’s Funding Rate Remains Positive
US President Donald Trump’s announcement of a potential 25% tariff on the European Union has negatively impacted investor confidence, leading to a significant drop in Bitcoin prices.
The cryptocurrency market is experiencing substantial selling pressure, with Bitcoin, the leading cryptocurrency, falling below the $85,000 mark to $82K during Thursday’s trading. This represents a sharp decline of over 20% from its January high of $109,350, marking the largest sell-off of 2025. Experts attribute the downturn to ETF outflows and the looming threat of Trump’s tariffs on the EU, suggesting that Bitcoin could potentially drop further to $74,000.
Recent data from Coinglass reveals that Bitcoin saw nearly $404 million in total liquidations over the last 24 hours, with buyers liquidating $338.29 million and sellers around $65.6 million, indicating a significant increase in long liquidations. Additionally, the open interest for Bitcoin has dropped by 5.7%, touching over $52.5 billion in the last 24 hours.
However, Bitcoin’s funding rate trades at +0.0095%, indicating that buyers remain somewhat bullish. This could help buyers to continue pushing the BTC price upwards.
Bitcoin Price Prediction: Technical Analysis
Bitcoin’s price is experiencing strong bearish pressure as it continues to drop below immediate Fib levels. Sellers plunged the price toward the low of $82K but buyers quickly rebounded the price. Currently, Bitcoin trades at $84,550, reflecting a 2.5% drop in the past 24 hours.
The BTC/USDT trading pair will now aim for a retest of the $81K level. As selling pressure intensifies, buyers will continue to defend further decline. However, if Bitcoin rebounds above $81K, we might see a recovery toward $89,000.
On the other hand, if Bitcoin fails to meet buyers’ demand around $81K, we might see further decline toward the low of $77K.
Bitcoin Price Prediction: What to Expect Next?
Short-term: According to BlockchainReporter, BTC price might aim for $81K. If it rebounds above that level, we might see $89,000. On the other hand, $77K is the lower range.
Long-term: According to Coincodex, their current Bitcoin price prediction suggests that the price of Bitcoin is expected to increase by 44.49%, reaching $124,694 by March 29, 2025. Coincodex’s technical indicators reflect a bearish current sentiment, while the Fear & Greed Index indicates a level of 10, signifying extreme fear. Over the last 30 days, Bitcoin has seen 12 out of 30 (40%) days in the green, with a price volatility of 3.59%. Based on this forecast, it is currently advised against buying Bitcoin.
How much is Bitcoin price today?
Bitcoin price is trading at $84,550, at the time of writing. The BTC price has dropped by over 2.5% in the last 24 hours.
What is the BTC price prediction for February 27?
Throughout the day, BTC price might aim for $81K. If it rebounds above that level, we might see $90K. On the other hand, $77K is the lower range.
Is Bitcoin a Good Buy Now?
According to long-term forecasts, Bitcoin price might reach $124,694 by March 29. This makes BTC price a good investment considering its monthly yield.
Investment Risks for Bitcoin
Investing in Bitcoin can be risky due to market volatility. Investors should:
- Conduct technical and on-chain analysis.
- Assess their financial situation and risk tolerance.
- Consult with financial advisors if necessary.
