Since then, Bitcoin staged an impressive sixfold rally from its November 2022 lows.
Aside from the brief Liberation Day sweep toward $75,000, the market barely retraced — and it is now paying the hefty price.
A 70% decline from the $126,400 record high would bring Bitcoin back toward the $30,000 area – That may sound extreme from today’s levels, but in crypto, nothing is impossible. Extreme volatility is part of the asset class’s DNA, on both the upside and the downside.
Before diving into a deeper analysis of the father of cryptocurrencies, it’s worth remembering that these drawdowns are exactly what markets do best.
They create stories, hope, and spectacular trends — but also nightmares, grief, and collapses. Bubbles are nothing new, and while markets evolve from them, they rarely learn. They simply reflect humanity’s purest forms of exuberance and despair.
The key risk now is whether these declines spill over into other asset classes and trigger cascading effects. But it isn’t only about fear. Historically, assets that lose more than 50% of their value can become attractive accumulation candidates — often more so than buying at full price. Still, catching falling knives is dangerous, and many fortunes have been lost trying.
Plan carefully, scale in progressively, and always spread your risk.
Let’s explore some key levels of interest from Weekly to Daily charts and trading levels for Bitcoin (BTC) to spot where the current drop could hold (and potentially reverse, even if the mood doesn’t corroborate much with this idea).
