{"id":630052,"date":"2025-02-25T04:17:46","date_gmt":"2025-02-25T04:17:46","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=630052"},"modified":"2025-02-25T04:17:46","modified_gmt":"2025-02-25T04:17:46","slug":"bitcoin-price-prediction-btc-drops-3-in-latest-crypto-market-correction-as-investors-flock-to-this-ico-offering-free-bitcoin","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/bitcoin-price-prediction-btc-drops-3-in-latest-crypto-market-correction-as-investors-flock-to-this-ico-offering-free-bitcoin","title":{"rendered":"Bitcoin Price Prediction: BTC Drops 3% In Latest Crypto Market Correction As Investors Flock To This ICO Offering Free Bitcoin"},"content":{"rendered":"

The Bitcoin price dropped more than 3% in the last 24 hours to trade at $92,298.35 as of 10:45 p.m. EST as investors decrease their exposure to the leading crypto.<\/span><\/p>\n

The retracement by the BTC price coincides with a broader crypto market correction that has seen the digital asset space’s <\/span>capitalization<\/span><\/a> plunge over 4% in the last 24 hours. During this period, Bitcoin also briefly dropped below $91K to as low as $90,924.90.<\/span><\/p>\n

Bitcoin Price Resting On A Key Support <\/span><\/h2>\n

\"BINANCE:BTCUSDT<\/p>\n

4-hour chart for BTC\/USDT (Source: <\/span>TradingView<\/span><\/a>)<\/span><\/p>\n

The <\/span>Bitcoin<\/span><\/a> price is hovering above a support at $90,884.93. Should the largest crypto by market cap fall below this price point in the coming few hours, it could be exposed to the risk of plunging down to the subsequent support at $88,444.73 in the short term.<\/span><\/p>\n

On the other hand, the Bitcoin price managing to stay above the $90,884.93 mark for the next 8 hours might be seen as a positive sign. Traders will likely start to buy into the crypto market leader. This could then lead to a more bullish scenario playing out, wherein BTC tries to reclaim the $93,904.24 support. Continued buy pressure might then push the crypto up to $95,703.66.<\/span><\/p>\n

Bitcoin Price Technicals Still Favor Sellers<\/span><\/h2>\n

From a technical standpoint, indicators on BTC’s 4-hour chart warn that bears still have a tight grip on the <\/span>Bitcoin<\/span><\/a> price. Both the Relative Strength Index (RSI) and the Moving Average Convergence Divergence (MACD) suggest the crypto’s price might drop some more.<\/span><\/p>\n

RSI readings have plunged to oversold territory below 30. Although a low RSI reading is often seen as a buy signal, it also warns that sellers are overpowering buyers. If enough bulls decide to go long on BTC at this point, it could lead to a shift in power that favors buyers. <\/span><\/p>\n

Meanwhile, momentum favors bears, which is suggested by the MACD line’s positioning below the MACD Signal line. The gap between the two technical indicators is still growing as well, which could be interpreted as a sign of SOL’s bearish momentum picking up steam. <\/span><\/p>\n

While the positive slope of the RSI line suggests buyers are starting to chip away at sellers’ grip on the Bitcoin price, the MACD line breaking away below the MACD Signal line shows that bulls still have a lot of work ahead of them if they want to shift momentum in their favor.<\/span><\/p>\n

While Bitcoin technicals still show bearish signs, investors flock to a new meme coin called <\/span>BTC Bull Token (BTCBULL)<\/span><\/a> for gains. Popular crypto YouTube channel 99Bitcoins, which has over 726K subscribers, predicts BTCBULL could soar 10X after its launch.<\/span><\/p>\n