Bitcoin has taken a sharp hit lately. Prices are falling fast, and many traders are asking: ? BTC dropped below key levels, dragging Ether and other coins down too. This is not just a small dip. It’s part of a bigger trend that has wiped out billions from the crypto market.
Right now, Bitcoin sits around $83,000 after a 0.7% slide in the last session. But zoom out, and it’s worse. BTC started the week near $90,400. Now, it’s battling to hold $79,000. This marks the longest run of monthly losses since 2019. Ether? Down 4.9% to about $2,677.
The total crypto market lost over $300 billion in days. Liquidations hit $1.8 billion as leveraged bets blew up. Traders on social media are in panic mode. One post called it a “BRUTAL” dip, the worst since the April 2025 tariff crash.
The main spark? A strong US dollar rally, the biggest since May. This came after news of President Trump’s pick for the next Federal Reserve Chair: Kevin Warsh. If the Senate confirms him, Warsh replaces Jerome Powell in May. Markets see Warsh as hawkish on rates, boosting the dollar and hurting risk assets like crypto.
Why does a strong dollar crush Bitcoin? Simple. BTC often moves opposite to the USD. When the dollar gains, investors pull from high-risk plays like crypto into safe bucks. Add in global uncertainty, and it’s a perfect storm.
X (formerly Twitter) is full of cries like “Why is Bitcoin down today?” Posts highlight the speed of the fall. One trader noted BTC’s plunge mirrors past crashes, with no quick bounce in sight. Fear is spreading as alts follow BTC lower.
Benjamin Cowen, founder of Into The Cryptoverse, sounded the alarm in a fresh video. “Bitcoin is in a bear market,” he said flat out. Cowen points to ongoing price drops and weak momentum. He expects more pain ahead.
Influencer Crypto Bitlord agrees: “The next major support for Bitcoin is $30k.” That’s a huge drop from here. Bitlord sees no floor until deep lows.
Peter Schiff, the gold bug and BTC skeptic, piled on. “Bitcoin is now worth just 15.5 ounces of gold,” he tweeted. Down 57% from 2021 peaks, barely above 2017 highs. Schiff says hype from Wall Street and Trump won’t save it. Gold or silver would have been smarter, he claims.
Analyst Victor Olanrewaju from CCN breaks it down on charts. BTC broke below the $86,400 neckline. This confirms a head-and-shoulders pattern on the daily chart—a classic bear signal. Expect deeper sells until $70k or lower.
Other signs? RSI oversold but no reversal. Volume spikes on downsides. MACD bearish cross. All point to continuing.
This isn’t new. Remember 2022? BTC fell 70%+ from highs. Or 2018’s 85% wipeout. Longest monthly loss streak since 2019 echoes those dark days. Back then, Fed hikes crushed risk assets too.
But crypto bounces back. Post-2018, BTC hit new highs by 2021. Question is timing. With Trump pro-crypto talk, some hope for policy boosts. Yet Fed picks like Warsh could tighten money supply, delaying recovery.
Bull case? Dollar peaks, Fed softens, or ETF inflows return. Trump policies could spark risk-on if crypto-friendly.
Bear markets test HODLers. Volatility spikes, but opportunities hide in dips. Diversify? Look at BTC dominance rising—means alts suffer more. Stablecoins shine in storms.
Long-term? Bitcoin’s supply cap and halving cycles favor bulls eventually. But short-term, buckle up.
The has experts divided. Bears see $30k. Bulls wait for reversal. Track Fed news, dollar index (DXY), and BTC charts closely. Crypto stays wild—stay informed, trade smart.
What do you think? Drop thoughts in comments. Will BTC rebound soon or plunge deeper?
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