Ah, the weekend! A time for relaxation, family, and, apparently, watching Bitcoin perform its best impression of a drunken chicken on roller skates. As the digital currency slides down towards the ominous $80,000 mark, one can’t help but wonder if it’s just a minor hiccup or the start of a full-blown existential crisis.
Market sentiments have turned as bearish as a grumpy troll under a bridge, all thanks to the tariff antics of a certain former president. Experts, who are often mistaken for fortune tellers, predict further downslides in the coming days. Because, of course, nothing says “let’s invest” like a panic-induced sell-off triggered by political shenanigans. 🐔💰
As of 7:00 p.m. ET, Bitcoin had plummeted to $80,000, marking a 7% decline in just 24 hours. At the time of this writing, it was valiantly trading at $81,641, which is like saying it’s only slightly less on fire than before. 🔥
Enter Arthur Hayes, co-founder of BitMEX and self-proclaimed oracle of the crypto realm. He warns that Bitcoin might just dip below $78,000 again, which is about as comforting as a wet sock. He points out that a plethora of Bitcoin options are priced between $70,000 and $75,000, which could lead to volatility that would make a cat on a hot tin roof look calm.
“An ugly start to the week. Looks like $BTC will retest $78k. If it fails, $75k is next in the crosshairs. There are a lot of options OI struck $70-$75k, if we get into that range it will be violent.”
— Arthur Hayes (@CryptoHayes) March 9, 2025
In a Sunday sell-off that could only be described as catastrophic, BTC price dropped a staggering $6000, looking to test its low of 2025. The 4-hour chart reveals a larger consolidation, which sounds much more impressive than it actually is.
Bitcoin faces resistance near $86,000, while $81,000 serves as a rather flimsy support. Big red candles are the market’s way of saying “sell, sell, sell!” while small green spikes indicate buying attempts that are about as effective as a chocolate teapot.
With a low trend strength indicated by an average directional index (ADX) of 25, volatility is as high as a kite on a windy day, and the bearish bias is still lurking like a bad smell. If Bitcoin doesn’t break higher, traders may be looking for short entries near resistance, while those with a penchant for optimism might hope for a miracle in the $81,000-$82,000 zone.
Read More
- Nadaaniyan song Galatfehmi OUT: Ibrahim Ali Khan, Khushi Kapoor’s heartbreaking separation in love will leave you emotional
- Pop-Tarts and Krispy Kreme Kick Off 2025 With Collaborative Menu
- Cookie Run Kingdom Town Square Vault password
- Alec Baldwin’s TLC Reality Show Got A Release Date And There’s At Least One Reason I’ll Definitely Be Checking This One Out
- The First Trailer for The Weeknd’s ‘Hurry Up Tomorrow’ Film Is Here
- Rick Owens Gives RIMOWA’s Cabin Roller a Bronze Patina
- JJJJound’s Made in Germany adidas Superstars Drop This Week
- Lars Eidinger on Berlin Opener ‘The Light’: “We, the Privileged Wealthy, Are the Problem”
- Ryan Gosling’s Star Wars Movie Here’s Everything We Know
- ‘The Last of Us’ Gets Season 2 Premiere Date
2025-03-10 11:16