Bitcoin Price Falls Below $83K After 9% Drop – What’s Next for BTC?
Bitcoin’s price took a dramatic turn, surging to $95,000 before crashing below $83,000 in a matter of days. The initial rally was fueled by former President Donald Trump’s proposal for a U.S. Crypto Strategic Reserve, which aimed to include Bitcoin, Ethereum, and several altcoins.
However, enthusiasm quickly faded as concerns over regulatory approval and implementation surfaced. Additionally, profit-taking and macroeconomic factors triggered a wave of sell-offs, sending BTC tumbling to $82,880. Large investors offloaded 8,400 BTC onto exchanges, amplifying the bearish momentum.
Meanwhile, Trump’s confirmation of a 25% tariff on imports from Canada and Mexico added to market uncertainty, leading to a broader sell-off in risk assets, including Bitcoin.
While optimism around institutional adoption remains, the short-term outlook for BTC remains shaky.
US Crypto Reserve Sparks Debate as Bitcoin Struggles
Trump’s U.S. Crypto Strategic Reserve proposal initially ignited optimism, with many investors seeing it as a major step toward mainstream adoption. Some argued that this could serve as a hedge against financial instability, while others questioned whether Bitcoin’s volatility made it a risky asset for government reserves.
Bitcoin briefly hit $95,000 following the announcement but failed to maintain gains as doubts emerged. Traders worried about potential regulatory hurdles and political opposition, leading to a sell-off that erased all previous gains.
- Trump’s Crypto Reserve plan pushed BTC to $95K before reversal.
- Investors divided over Bitcoin’s role in national reserves.
- Regulatory concerns triggered selling pressure, driving BTC below $83K.
Despite recent price declines, some institutions remain bullish on Bitcoin’s long-term trajectory. Standard Chartered maintains its price targets of $200K by 2025 and $500K by 2028, citing increasing institutional demand.
— CryptoKing (@Crypto_China) March 3, 2025
SHOCKING – Standard Chartered indicated: Trump’s Crypto Reserve plan could send Bitcoin to $500K.
First, they laughed. Then, they fought it. Now, they’re all racing to stack before it’s too late. Welcome to Bitcoin.pic.twitter.com/YGBfhotIow
Meanwhile, Senator Cynthia Lummis continues to push for legislation requiring the U.S. government to accumulate Bitcoin annually.
Bitcoin’s Technical Outlook – Key Levels to Watch
Bitcoin is currently trading at $83,857, struggling to find support after a 9.14% drop in the past 24 hours. The 50-day EMA at $87,322 remains a key resistance level, reinforcing the short-term bearish trend.
- Immediate resistance: $86,841, with stronger levels at $90,184 and $94,941.
- Immediate support: $78,339, with further downside potential toward $75,109 and $71,311.
- Breakout signal: A move above $86,841 could signal a recovery, while failure to hold $83,000 may extend the decline.
With uncertainty surrounding Trump’s Crypto Reserve proposal, macroeconomic concerns, and increased selling pressure, Bitcoin’s near-term direction remains volatile. Traders should watch for a decisive move above resistance or deeper losses if BTC fails to hold support.
BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale
BTC Bull ($BTCBULL) is gaining traction as a community-driven token that rewards holders with real Bitcoin. Unlike conventional meme tokens, BTCBULL airdrops BTC automatically when Bitcoin reaches key price milestones, offering a strong incentive for long-term investors.
Staking & Passive Income Opportunities
BTC Bull features high-yield staking, allowing users to earn passive income with an impressive 154% APY. This staking system has already seen strong community participation, with millions of BTCBULL tokens staked.
- Current Presale Price: $0.00239 per BTCBULL
- Total Raised: $3.1M / $3.66M target
With investor interest surging, this presale offers an opportunity to secure BTCBULL at early-stage prices before the next price jump.
The post Bitcoin Price Falls Below $83K After 9% Drop – What’s Next for BTC? appeared first on Cryptonews.
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Bitcoin Price Falls Below $83K After 9% Drop – What’s Next for BTC?
Bitcoin’s price took a dramatic turn, surging to $95,000 before crashing below $83,000 in a matter of days. The initial rally was fueled by former President Donald Trump’s proposal for a U.S. Crypto Strategic Reserve, which aimed to include Bitcoin, Ethereum, and several altcoins.
However, enthusiasm quickly faded as concerns over regulatory approval and implementation surfaced. Additionally, profit-taking and macroeconomic factors triggered a wave of sell-offs, sending BTC tumbling to $82,880. Large investors offloaded 8,400 BTC onto exchanges, amplifying the bearish momentum.
Meanwhile, Trump’s confirmation of a 25% tariff on imports from Canada and Mexico added to market uncertainty, leading to a broader sell-off in risk assets, including Bitcoin.
While optimism around institutional adoption remains, the short-term outlook for BTC remains shaky.
US Crypto Reserve Sparks Debate as Bitcoin Struggles
Trump’s U.S. Crypto Strategic Reserve proposal initially ignited optimism, with many investors seeing it as a major step toward mainstream adoption. Some argued that this could serve as a hedge against financial instability, while others questioned whether Bitcoin’s volatility made it a risky asset for government reserves.
Bitcoin briefly hit $95,000 following the announcement but failed to maintain gains as doubts emerged. Traders worried about potential regulatory hurdles and political opposition, leading to a sell-off that erased all previous gains.
- Trump’s Crypto Reserve plan pushed BTC to $95K before reversal.
- Investors divided over Bitcoin’s role in national reserves.
- Regulatory concerns triggered selling pressure, driving BTC below $83K.
Despite recent price declines, some institutions remain bullish on Bitcoin’s long-term trajectory. Standard Chartered maintains its price targets of $200K by 2025 and $500K by 2028, citing increasing institutional demand.
— CryptoKing (@Crypto_China) March 3, 2025
First, they laughed. Then, they fought it. Now, they’re all racing to stack before it’s too late. Welcome to Bitcoin.
Meanwhile, Senator Cynthia Lummis continues to push for legislation requiring the U.S. government to accumulate Bitcoin annually.
Bitcoin’s Technical Outlook – Key Levels to Watch
Bitcoin is currently trading at $83,857, struggling to find support after a 9.14% drop in the past 24 hours. The 50-day EMA at $87,322 remains a key resistance level, reinforcing the short-term bearish trend.
- Immediate resistance: $86,841, with stronger levels at $90,184 and $94,941.
- Immediate support: $78,339, with further downside potential toward $75,109 and $71,311.
- Breakout signal: A move above $86,841 could signal a recovery, while failure to hold $83,000 may extend the decline.
With uncertainty surrounding Trump’s Crypto Reserve proposal, macroeconomic concerns, and increased selling pressure, Bitcoin’s near-term direction remains volatile. Traders should watch for a decisive move above resistance or deeper losses if BTC fails to hold support.
BTC Bull: Earn Bitcoin Rewards with the Hottest Crypto Presale
BTC Bull ($BTCBULL) is gaining traction as a community-driven token that rewards holders with real Bitcoin. Unlike conventional meme tokens, BTCBULL airdrops BTC automatically when Bitcoin reaches key price milestones, offering a strong incentive for long-term investors.
Staking & Passive Income Opportunities
BTC Bull features high-yield staking, allowing users to earn passive income with an impressive 154% APY. This staking system has already seen strong community participation, with millions of BTCBULL tokens staked.
- Current Presale Price: $0.00239 per BTCBULL
- Total Raised: $3.1M / $3.66M target
With investor interest surging, this presale offers an opportunity to secure BTCBULL at early-stage prices before the next price jump.
The post Bitcoin Price Falls Below $83K After 9% Drop – What’s Next for BTC? appeared first on Cryptonews.
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