Bitcoin’s decline intensified today as sellers fully reclaimed market control, wiping out recent gains and pushing BTC below the crucial $88,000 level. According to market data reviewed by CryptosNewss, the world’s largest cryptocurrency has dropped over 5 percent within hours, signaling renewed bearish pressure across the market.
The correction began shortly after Bitcoin failed to sustain momentum above the $92,000 resistance zone. This triggered a sharp fall below $90,500 and $90,000, with BTC breaking a key bullish trend line at $89,500 on the hourly chart of the BTC/USD pair, based on Kraken data.
A fresh low formed at $86,500, where the price is now consolidating. BTC is trading well below both the $90,000 mark and the 100-hourly Simple Moving Average, reinforcing bearish sentiment.
Key Resistance Zones Ahead
Bitcoin must break above $87,850 to attempt any recovery. The next significant resistance lies at $89,200, aligning with the 50 percent Fib retracement of the fall from $91,928 to $86,500.
If BTC successfully closes above $89,500, buyers may attempt to retest $90,650, followed by $91,500, and eventually the $92,000–$92,500 barrier.
Deeper Losses Likely if Support Fails
If Bitcoin fails to reclaim $87,800, analysts warn of another leg downward. Key support levels include:
- •$86,500 – Immediate support
- •$86,000 – First major support
- •$85,500 – Next critical level
- •$83,500 – Potential short-term downside target
- •$82,200 – Major support, beneath which sharper declines may accelerate
Technical indicators confirm bearish pressure:
- •MACD shows increasing momentum in the downside zone
- •RSI remains below 50, signaling weak buyer strength
Market volatility is expected to persist as traders react to global macro pressures and fading bullish momentum.