Bitcoin Plunges, Testing Crucial Support

Bitcoins recent plunge, dropping below ninety-three thousand dollars, has triggered a cautious mood in the digital asset market. Analysts at QCP Capital highlight the break below the fifty-week moving average and the potential end of the four-year crypto cycle as contributing factors. Bitcoin is nearing a crucial support level of ninety-two thousand dollars, with an unfilled CME gap in the region potentially causing a short-term bounce. However, heavy overhead supply and macroeconomic uncertainties keep the overall picture fragile. Prediction market users now believe theres a sixty-three percent chance Bitcoin will drop to eighty-five thousand dollars before reaching one hundred fifteen thousand dollars.The Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.