The Bitcoin market is under heavy pressure following a series of negative headlines. Expectations of a Fed rate cut have weakened, and the stronger USD has driven capital out of crypto. BTC quickly dropped to around 108,035 USD. At the same time, ETF outflows and large-scale liquidations dragged the price down to a 7-week low, marking a nearly 12% drop from the recent peak. Notably, a whale dumping 24,000 BTC triggered a sharp flash crash, sending BTC plunging within just a few hours.
On the 12H chart, the downtrend is evident: BTC is capped by the descending trendline, while both short-term and long-term EMAs have turned lower. The most likely scenario is a technical rebound toward 109,500 USD before continuing its decline toward the major support at 100,500 USD.
Trading Strategy (for reference):
Prefer Sell on rally near 109,500 USD.
Stop-loss: above 112,000 USD.
Targets: 105,000 USD first, then 100,500 USD.
