The year 2025 was not exactly as planned for the cryptographic industry, because the Bear’s pressure is still surrounding the market. After a recent deterioration of the economic situation that shook the cryptographic market, the price of Bitcoins currently trads almost 25% below the highest level.
According to Coingeck, the Bitcoins price has dropped by about 12% in the last seven days. Even worse, the latest price data suggest that the decline may not end yet in the case of cryptocurrency.
Current prospects of BTC prices
In the post of February 28 on the Social Media Platform X, Crypto analyst Ali Martinez put out Another perspective of the Bear Bitcoin prices in the current market condition. According to online experts, the price of BTC may drop to 74,700 USD to find relief from continuous correction.
The justification for this forecast is the movement and the key nature of the 50-week-old movable average on the weekly Bitcoin chart. Martinez noticed that the BTC price historically tends to find support and reflect above this long -term movable average.
Source: Ali_charts/X
As shown in the graph above, the price of Bitcoins has experienced deep corrections in previous cycles, which often affects the 50-week-old movable average. Recently, the flagship cryptocurrency found support in the movable average in July 2021, reflecting to the highest level of around 62,000 USD before it reached the summit of the cycle 67,737 USD.
Passing this historical priority, it seems that the price of Bitcoins can be threatened by further movement down, with the next support around 74,200 USD. However, if this key level of support is powerful, the market leader can return to the previous high price of all time and even outside.
On the other hand, if the BTC price violates the 50-week average movable to the bottom, the most significant cryptocurrency may be in the prolonged correction period. Using previous cycles as a template in the analysis of this bear, the price of Bitcoins is threatened with the start of its bear, if he breaks the average movable 50 W.
In the last cycle-at violation of the 50-week movable average, the price of bitcoins dropped from around 68,000 USD to USD 17,000 by 75%-in just about a year. It is worth mentioning, however, that the deterioration of the economic situation could have been exaggerated due to the fall of Terra Luna and FTX Exchange in 2022.
Bitcoin price at first glance
From this letter, the price of BTC is slightly above the result of USD 85,200, which reflects any significant changes in the last 24 hours.
The price of BTC on the daily timeframe | Source: BTCUSDT chart on TradingView
Recommended photo from Istock, chart from TradingView
