{"id":632464,"date":"2025-03-04T04:06:58","date_gmt":"2025-03-04T04:06:58","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=632464"},"modified":"2025-03-04T04:06:58","modified_gmt":"2025-03-04T04:06:58","slug":"bitcoin-price-prediction-btc-plunges-10-amid-crypto-market-crash-as-investors-pivot-to-this-meme-coin-ico-for-its-135-apy","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/sponsored\/bitcoin-price-prediction-btc-plunges-10-amid-crypto-market-crash-as-investors-pivot-to-this-meme-coin-ico-for-its-135-apy","title":{"rendered":"Bitcoin Price Prediction: BTC Plunges 10% Amid Crypto Market Crash As Investors Pivot To This Meme Coin ICO For Its 135% APY"},"content":{"rendered":"

The Bitcoin price plummeted over 10% in the last 24 hours to trade at $83,742.35 as of 9:50 p.m. EST as investors dump their holdings in the largest crypto by market cap.<\/span><\/p>\n

This steep drop in the BTC price coincides with a more than 11% drop in the overall crypto market cap in the last 24 hours, according to <\/span>CoinMarketCap<\/span><\/a>.<\/span><\/p>\n

Bitcoin Price Drops Below 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 fell below the $87,200.27 support over the last 24 hours and is now testing the subsequent mark at $83,082.30. Should it lose this second technical safety net, the leading crypto could be at risk of dropping all the way down to $78,589.95 in the short term.<\/span><\/p>\n

However, traders identifying BTC’s current price as a buy opportunity could lead to a more bullish scenario playing out wherein Bitcoin tries to reclaim the $87,200.27 support. A 4-hour candle close above this mark could then give the Bitcoin price the foundation needed to rise to above $90K to potentially reach as high as $93,190.06.<\/span><\/p>\n

Technicals Warn The Bitcoin Price Might Keep Falling<\/span><\/h2>\n

From a technical standpoint, indicators on BTC’s 4-hour chart suggest the <\/span>Bitcoin<\/span><\/a> price might keep falling in the next few hours. Both the Moving Average Convergence Divergence (MACD) and the Relative Strength Index (RSI) are showing bearish signs.<\/span><\/p>\n

The RSI plunged below its Simple Moving Average (SMA) line on the 4-hour chart. This technical event is often interpreted as a sign that sellers have gained an upper hand against buyers. <\/span><\/p>\n

What’s more, the RSI line is still negatively sloped and stands in the high 30s. This suggests that sellers show no intentions of easing their pressure on the Bitcoin price yet, and that there is still more room for the crypto to fall before it enters oversold territory.<\/span><\/p>\n

Meanwhile, the MACD line also crossed below the MACD Signal line in the last couple of hours to indicate that BTC has entered a negative cycle. With the gap between the two lines growing, it appears Bitcoin’s bearish momentum is picking up steam as well.<\/span><\/p>\n

As technical indicators flash bearish for Bitcoin, investors might flock to a new meme coin called <\/span>BTC Bull Token (BTCBULL)<\/span><\/a> to wait out the crypto market storm and protect their capital. According to Alessandro De Crypto, a popular YouTuber with more than 14.7K subscribers, the meme coin has the potential to print massive gains for investors.<\/span><\/p>\n