The post How Low Can Bitcoin Price Drop? appeared first on Coinpedia Fintech News
Bitcoin has had a rough start to the week, hanging to just above $80,000 on March 10. BitMEX co-founder Arthur Hayes warns that BTC could soon retest $78,000, and if that level fails, $75,000 will be the next target. He pointed out that a massive amount of Bitcoin options open interest is concentrated between $70,000 and $75,000, meaning that if BTC enters this range, volatility could rise, triggering fear of more liquidations.
Billions Lost as Bitcoin Falls
The market crash has already wiped out over $5 billion in bullish bets, mostly long positions in just four days. Bitcoin is now down nearly 30% from its January highs, and traders are worried because the price has fallen below the 200-day moving average, a key signal that often predicts more losses. Many had hoped that the BTC Strategic Reserve, a new initiative, would boost confidence, but it hasn’t helped. At the same time, big inve
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