{"id":11074,"date":"2025-02-03T15:01:51","date_gmt":"2025-02-03T15:01:51","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=11074"},"modified":"2025-02-03T15:01:51","modified_gmt":"2025-02-03T15:01:51","slug":"bitcoin-btc-could-tank-below-75k-if-this-key-support-fails-analyst","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=11074","title":{"rendered":"Bitcoin (BTC) Could Tank Below $75K if This Key Support Fails (Analyst)"},"content":{"rendered":"<div>\n<p><strong>TL;DR<\/strong><\/p>\n<ul>\n<li><span data-preserver-spaces=\"true\">Bitcoin (BTC) has tumbled by 10% since the start of February, with analysts warning that further declines to $80,000 or even $74,400 are possible if key support levels fail.<\/span><\/li>\n<li>Others suggest Trump\u2019s tariff policies could drive demand for BTC as a hedge against inflation and currency devaluation.<\/li>\n<\/ul>\n<h2><span data-preserver-spaces=\"true\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27.jpg\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-381667\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27.jpg\" alt=\"\" width=\"1201\" height=\"720\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27.jpg 1201w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27-300x180.jpg 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27-1024x614.jpg 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27-768x460.jpg 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC_CB-27-50x30.jpg 50w\" sizes=\"auto, (max-width: 1201px) 100vw, 1201px\"><\/a><\/span><\/h2>\n<h2>The Correction Might be Just Starting<\/h2>\n<p><span data-preserver-spaces=\"true\">January was a highly successful period for the primary cryptocurrency, with its price <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/bitcoin-price-skyrockets-to-new-all-time-high-hours-ahead-of-trumps-inauguration\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">soaring<\/span><\/a><span data-preserver-spaces=\"true\"> to a new all-time high of almost $110,000 shortly before Donald Trump\u2019s inauguration. Despite the enhanced volatility in the following days, bitcoin (BTC) was trading at over $104,000 on the last day of the month.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Numerous industry participants <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/bitcoin-records-double-digit-gains-in-8-of-12-februaries-will-history-repeat\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">expected<\/span><\/a><span data-preserver-spaces=\"true\"> February to be even more fortunate. After all, it has been a historically strong month for the asset, and just two of the last 12 Februaries have ended in the red. The ongoing month also comes after a halving year, which in previous cases has resulted in double-digit gains.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Contrary to the presumption, BTC did not start the month on the right foot, and in the last three days, it\u00a0<a href=\"https:\/\/cryptopotato.com\/crypto-liquidations-explode-to-over-2-2-billion-as-bitcoin-dumped-by-10k-daily\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\">tumbled<\/a> from around $102,000 to the local bottom of less than $92,000.\u00a0In the past several hours, the bulls stepped in and pushed the valuation to <\/span><span data-preserver-spaces=\"true\">the current<\/span><span data-preserver-spaces=\"true\"> $95,000 (per CoinGecko\u2019s data).<br \/>\n<\/span><\/p>\n<figure id=\"attachment_381666\" aria-describedby=\"caption-attachment-381666\" style=\"width: 591px\" class=\"wp-caption aligncenter\"><a href=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price.png\" data-wpel-link=\"internal\"><img loading=\"lazy\" decoding=\"async\" class=\"wp-image-381666\" src=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price.png\" alt=\"BTC Price\" width=\"591\" height=\"400\" srcset=\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price.png 1052w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price-300x203.png 300w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price-1024x693.png 1024w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price-768x520.png 768w, https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/02\/BTC-Price-50x34.png 50w\" sizes=\"auto, (max-width: 591px) 100vw, 591px\"><\/a><figcaption id=\"caption-attachment-381666\" class=\"wp-caption-text\">BTC Price, Source: CoinGecko<\/figcaption><\/figure>\n<p><span data-preserver-spaces=\"true\">Perhaps the<\/span><span data-preserver-spaces=\"true\"> most obvious factor contributing to the pullback is the macroeconomic uncertainty caused by <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/crypto-markets-melt-down-in-400b-selloff-on-trumps-trade-tariffs\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">Donald Trump\u2019s decision<\/span><\/a><span data-preserver-spaces=\"true\"> to impose hefty tariffs on China, Canada, and Mexico.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">One person noting the wipeout in the cryptocurrency sector was the BTC proponent, using the X moniker Momin. He <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/mominsaqib\/status\/1886346391963779236\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">suggested<\/span><\/a><span data-preserver-spaces=\"true\"> that if Trump\u2019s decision \u201ckeeps shaking the market,\u201d the asset\u2019s price may drop to $80,000.<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cYou don\u2019t need to deploy all your money here<\/span><span data-preserver-spaces=\"true\">, let<\/span><span data-preserver-spaces=\"true\"> the situation <\/span><span data-preserver-spaces=\"true\">fold out<\/span><span data-preserver-spaces=\"true\">. Stay safe,\u201d <\/span><span data-preserver-spaces=\"true\">he<\/span><span data-preserver-spaces=\"true\"> added.<\/span><\/p>\n<\/blockquote>\n<p><span data-preserver-spaces=\"true\">Ali Martinez also gave his two cents. The analyst <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/x.com\/ali_charts\/status\/1886394325732413920\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"external\"><span data-preserver-spaces=\"true\">told<\/span><\/a><span data-preserver-spaces=\"true\"> his over 120,000 followers on X that $92,180 \u201cis now one of the most critical support levels\u201d for BTC based on the MVRV Pricing Bands. He believes that breaking below that mark could lead to a massive crash to as low as $74,400.\u00a0<\/span><\/p>\n<h2><span data-preserver-spaces=\"true\">Pain Only in the Short Term?<\/span><\/h2>\n<p><span data-preserver-spaces=\"true\">The <\/span><span data-preserver-spaces=\"true\">tariff war led by Trump<\/span><span data-preserver-spaces=\"true\"> has harmed the financial markets and the cryptocurrency industry, but according to Jeff Park (Head of Strategy at Bitwise), it might have a positive effect on bitcoin in the long run.<\/span><span data-preserver-spaces=\"true\">\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">He <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/cryptopotato.com\/tariffs-to-fuel-bitcoin-surge-says-bitwise-strategist\/\" target=\"_blank\" rel=\"noopener\" data-wpel-link=\"internal\"><span data-preserver-spaces=\"true\">thinks<\/span><\/a> <span data-preserver-spaces=\"true\">the <\/span><span data-preserver-spaces=\"true\">actual<\/span><span data-preserver-spaces=\"true\"> effects of the increased rates should be understood<\/span><span data-preserver-spaces=\"true\"> through two key ideas: the Triffin dilemma and Trump\u2019s economic plans.<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">The Triffin dilemma is an economic paradox that arises when a national currency <\/span><span data-preserver-spaces=\"true\">also serves as<\/span><span data-preserver-spaces=\"true\"> the world\u2019s reserve currency. While this gives the country certain financial advantages, <\/span><span data-preserver-spaces=\"true\">it also means<\/span><span data-preserver-spaces=\"true\"> it must maintain trade deficits to supply liquidity.\u00a0<\/span><\/p>\n<p><span data-preserver-spaces=\"true\">Park sees tariffs as a short-term tactic to push nations to reduce their US dollar holdings and shift investments away from America\u2019s debt, with the <\/span><span data-preserver-spaces=\"true\">real<\/span><span data-preserver-spaces=\"true\"> goal being a controlled devaluation of the greenback. He also believes Trump\u2019s team aims to lower bond yields and cut reliance on foreign capital, making BTC a key hedge against inflation.<\/span><\/p>\n<blockquote>\n<p><span data-preserver-spaces=\"true\">\u201cAs the world enters a sustained tariff war, the demand for bitcoin will skyrocket. Both US investors and foreign market participants will flock to bitcoin for different reasons, but the outcome remains the same \u2013 higher prices, and at an accelerated pace,\u201d he concluded.<\/span><\/p>\n<\/blockquote>\n<p>The post <a href=\"https:\/\/cryptopotato.com\/bitcoin-btc-could-tank-below-75k-if-this-key-support-fails-analyst\/\" rel=\"nofollow\">Bitcoin (BTC) Could Tank Below $75K if This Key Support Fails (Analyst)<\/a> appeared first on <a href=\"https:\/\/cryptopotato.com\/\" rel=\"nofollow\">CryptoPotato<\/a>.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Bitcoin (BTC) has tumbled by 10% since the start of February, with analysts warning that further declines to $80,000 or even $74,400 are possible if key support levels fail. Others suggest Trump\u2019s tariff policies could drive demand for BTC as a hedge against inflation and currency devaluation. The Correction Might be Just Starting January [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-11074","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11074","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=11074"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/11074\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=11074"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=11074"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=11074"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}