Claim $500Bitcoin Price Analysis: BTC/USD Plummets Under $9,500, Lack Of Volume Or Technical Breakdown?
- Bitcoin price slashes a chunk of the gains accrued since the weekend trading; sabotaging recovery above $10,000.
- BTC/USD is in the hands of the sellers but consolidation is likely between $9,400 and $9,600.
Bitcoin price turned heads earlier this week with its majestic rise to highs above the critical $10,000. In fact, the crypto extended the gains above $10,400. However, the price did not stay up for long because of an immediate reversal. In both the Asian and European sessions on Monday, BTC/USD held on to the support above $10,000. Unfortunately, the tables were turned during the European session as Bitcoin tanked to $9,523.
At the time of writing, Bitcoin is trading at $9,487 after losing 0.35% on the day. The trading is likely to remain bearish throughout the Asian session and the European session. It is essential that the bulls reclaim the position above $9,500. This would allow them to focus on higher levels towards $10,000. On the flip side, continued declines under the short term support at $9,400 could easily open the Pandora box. Breakdown towards $9,000 is not out of the picture because the losses could also extend into the $8,000’s range.
BTC/USD daily chart
The double-top pattern I discussed yesterday is negatively impacting Bitcoins’ price. The losses in the last 24 hours show that Bitcoin was not technically ready for the breakout above $10,000. Fundamentals in terms of volume were also not supportive and that could be the reason for the reversal under $9,500.
The prevailing technical picture remains drab, especially with the RSI retreat fast towards the average (50). Consolidation above between $9,400 and $9,600 is only possible if the RSI stays above 50. Meanwhile, key support areas include $9,400, the ascending trendline as well as $9,200.
Bitcoin Key Intraday Levels
Spot rate: $9,487
Relative change: -35
Percentage change: -0.37%
Trend: Bearish
Volatility: Expanding
High: $9,523
Low: $9,474
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more… to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Premium Partners
Delivered every day.
- Insights that move markets
- 100,000 active subscribers
Related Articles
- U.S. CLARITY Act Is Taking Longer, Coinbase Exec Explains Why
- Michael Saylor’s Strategy Faces 2025 Q4 Loss Following Bitcoin and MSTR’s Crash
- Bitcoin Rises to $90K Even as Trump Defends Tariffs Ahead of Supreme Court Ruling
- Bitget’s 2025 Recap: Bitcoin and Gold Lead as ‘Safe Haven’ Assets as Dollar Posts Worst Yearly Loss
- BlackRock Moves Bitcoin and Ethereum, Stirring Sell-Off Fears Ahead of $2.2B Options Expiry
- Ethereum Price Prediction 2026 As Vitalik Buterin Unveils New Scaling Roadmap
- Bitcoin Price and XRP Price Prediction 2026 Ahead of US Crypto Reserve, CLARITY Act
- Analyst Predicts Cardano Price to Surge 103% to $0.75 as Midnight, Leios Launch Near
- Dogecoin Price Jumps 10% as Whales Scoop Up 220M DOGE; What’s Next?
- Here’s Why Crypto Market Turns Bullish as 2026 Kicks Off
- Pepe Coin price Enters 2026 with a 25% Surge as Open Interest Jumps 82% — What’s Next?
