** Bitcoin price rates are experiencing a downward trend, with some important areas of support visible. Any CME gap is an indicator of a possible reversal, and key price levels will determine the subsequent direction.**
Bitcoin dropped to a low of $86,000 following the reopening of the CME futures on Sunday. The dip commenced after a weekend trading break. Although the price has slightly recovered, it is still in a downward trend.
The first decline produced a CME pricing gap that extended to $89,265. Bitcoin is historically prone to reoccurrence of these gaps.
The last time Bitcoin reached an all-time high was 111 days ago, and it is currently down by 30%. This fall solidifies the existing bearish trend.
Will $80,000 Support Crumble Next?
With a price below 80,000, the future losses will definitely increase. Bitcoin may reverse to April 2025 levels around 76,000 dollars. The sell-off is associated with the tariff policies of President Trump.
The 100-week moving average has structural support of the first order and is currently close to $87,145. Bitcoin has been at this level since the November low of 80,000.
Bitcoin has already dropped below the 50-day moving average, only slightly above 90,000. This indicator is used by traders to understand short-term trends.
Hidden Support Zones Could Save Bitcoin
Some prominent areas of support are below the current price levels. The Difficulty Regression Model estimates the average cost of production of Bitcoin by mining difficulty, and is approximately $89,300.
In bear markets, commodities tend to trade around their cost of production, the model has been particularly pertinent in the current times.
The total expense base of the U.S. spot ETF purchasers stands at 84,099, which offers a few months of support. According to on-chain data, the average price of exchange withdrawal in 2024 was 82,713.
The True Market Mean Price is slightly above $80,000. It is computed as a ratio of Investor Capital to Active Supply, which is close to the November low, and it is important.
The market structure is still bearish with slight recoveries. Several levels of support will be experimented with in forthcoming sessions,s and the capacity of Bitcoin to sustain $87,145 is critical.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Bitcoin Core Developers Propose BIP-361 to Freeze 1.7M Early BTC Against Quantum Computing Threats
BIP-361, proposed by co-authors including Jameson Lopp, aims to secure early Bitcoin by migrating 1.7 million coins from weak P2PK addresses to stronger formats, allowing 3-5 years for users before freezing untransferred coins. Community responses vary significantly.
GateNews29m ago
Goldman Sachs Files for Bitcoin Premium Income ETF With Covered Call Strategy
Asset manager and financial giant Goldman Sachs filed a registration statement with the Securities and Exchange Commission (SEC) on Tuesday, for a new actively managed fund called the Goldman Sachs Bitcoin Premium Income ETF.
Key Takeaways:
Goldman Sachs filed for a Bitcoin Premium Income ETF on
Coinpedia1h ago
Three Newly Created Wallets Withdraw 1,600 BTC from Major Exchanges in 5 Hours
Gate News message, April 16 — According to Lookonchain, three newly created wallets withdrew 1,600 BTC, valued at approximately $120 million, from major centralized exchanges over the past 5 hours.
GateNews2h ago
Florida and Massachusetts jointly recover $5.4 million in cryptocurrency scam assets
The Florida State Attorney’s Office and the Marion County Sheriff’s Office jointly recovered $5.4 million in cryptocurrency scam funds, involving an investment fraud scheme that used romance as a cover. Some of the funds have been returned to victims in Florida and Massachusetts. Since its inception, CFEU has recovered $7.2 million, and another $12.6 million in assets remains frozen. Massachusetts has also carried out multiple law-enforcement actions, shutting down scam websites and recovering funds.
MarketWhisper3h ago
