For the first time in many weeks, trading on Friday, December 20, raised the question of whether Bitcoin (BTC) will continue soaring like Led Zeppelin or if it will fall like a ‘lead zeppelin.’
Specifically, despite trading above $108,000 just days earlier – on December 17 – BTC collapsed to its press time price of $92,398 – a 9.52% 24-hour drop.
BTC 7-day price chart. Source: Finbold
Though the needle has moved somewhat in recent weeks, $92,000 has, on several occasions, been designated as the final stop before a plunge toward $85,000, most notably by the prominent cryptocurrency analyst on X, Ali Martinez.
Can Bitcoin truly crash below $90,000?
Indeed, unless the momentum shifts significantly, Bitcoin is in significant danger of a deeper collapse as it has already fallen beneath the highest support zone near $95,000 and is testing $92,000. Should it plunge even lower, its next potential bounceback level would be slightly above $88,000.
Furthermore, as a cryptoc
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