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Bitcoin (BTC) Could Tank Below $75K if This Key Support Fails (Analyst)

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’s tariff policies could drive demand for BTC as a hedge against inflation and currency devaluation. The Correction Might be Just Starting January was a highly successful period for the primary cryptocurrency, with its price soaring to a new all-time high of almost $110,000 shortly before Donald Trump’s inauguration. Despite the enhanced volatility in the following days, bitcoin (BTC) was trading at over $104,000 on the last day of the month. Numerous industry participants expected 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. Contrary to the presumption, BTC did not start the month on the right foot, and in the last three days, it tumbled from around $102,000 to the local bottom of less than $92,000. In the past several hours, the bulls stepped in and pushed the valuation to the current $95,000 (per CoinGecko’s data). BTC Price, Source: CoinGecko Perhaps the most obvious factor contributing to the pullback is the macroeconomic uncertainty caused by Donald Trump’s decision to impose hefty tariffs on China, Canada, and Mexico. One person noting the wipeout in the cryptocurrency sector was the BTC proponent, using the X moniker Momin. He suggested that if Trump’s decision “keeps shaking the market,” the asset’s price may drop to $80,000. “You don’t need to deploy all your money here , let the situation fold out . Stay safe,” he added. Ali Martinez also gave his two cents. The analyst told his over 120,000 followers on X that $92,180 “is now one of the most critical support levels” 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. Pain Only in the Short Term? The tariff war led by Trump 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. He thinks the actual effects of the increased rates should be understood through two key ideas: the Triffin dilemma and Trump’s economic plans. The Triffin dilemma is an economic paradox that arises when a national currency also serves as the world’s reserve currency. While this gives the country certain financial advantages, it also means it must maintain trade deficits to supply liquidity. Park sees tariffs as a short-term tactic to push nations to reduce their US dollar holdings and shift investments away from America’s debt, with the real goal being a controlled devaluation of the greenback. He also believes Trump’s team aims to lower bond yields and cut reliance on foreign capital, making BTC a key hedge against inflation. “As 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 – higher prices, and at an accelerated pace,” he concluded. The post Bitcoin (BTC) Could Tank Below $75K if This Key Support Fails (Analyst) appeared first on CryptoPotato . CoinOtag

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BINANCE COIN PRICE ANALYSIS & PREDICTION (February 3) – BNB Rejects $500 After a Huge Collapse, Recovers But Down 15%

Joining the latest dump, BNB also lost over 20% of its value today and tested a key price level with a sharp rejection. It has recovered well from its current low in the past hours but still looks highly bearish on the day. Despite losing steam two months back, BNB remained in a bullish zone and stayed well above the $600 level. Unfortunately, things got out of control in the last 72 hours due to high supply and the asset collapsed. After the $500 level contained the pressure, it held as support and the price bounced back with a long-wicked rejection. This indicates a strong bullish interception but the asset remains very weak on a daily scale. That bounce has brought a little relief in the past few hours and the price is now floating well above $570. Currently, the bulls are trying to retake the immediate lost level. If they succeed, we may see a fresh buy. The key breakpoint to consider for such an increase is $800. Meanwhile, it is important to note that the bears are still in charge. If they mount pressure again, the price may roll back to the current holding support. A break below it may cause a bigger loss in the market. Notwithstanding, there’s still hope for a major recovery as the bullish trajectory remains intact on the long-term scale. It may invalidate if the price drops below the 2024 low in the next selling phase. For now, BNB is under the bears’ radar from a short-term perspective. BNB Key Level To Watch Source: Tradingview The immediate barrier for recovery is $593, followed by $618.7. Higher resistance levels to watch are $660 and $700 for a bigger recovery. For further bearish move, BNB will have to retake $544, $525 and most importantly the daily $500 low. A drop off this low should trigger a bigger loss. Key Resistance Levels: $593, $618.7, $660 Key Support Levels: $544, $525, $500 Spot Price: $575 Trend: Bearish Volatility: High Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news ! Image Source: ximagination/ 123RF // Image Effects by Colorcinch CoinOtag