Claim BonusWhat’s Causing Bitcoin Price Crash Today?
Highlights
- Bitcoin's price dropped 2.50% to $67,402 after rallying nearly 1% over the weekend.
- A bearish swing failure pattern has formed, hinting at a potential reversal, following the failed bullish momentum.
- Bitcoin may retrace to critical support levels despite a long-term bullish outlook.
During Monday’s U.S. market session, the Bitcoin price plunged 2.65% to trade at $67,213. Consecutively, the market cap plunged to $1.33 Trillion. This pullback comes after a significant recovery last week, where BTC surged from $60,000 to $69,000. Can relief reversal recuperate the bullish momentum, or is the seller preparing for a major downfall?
Why is Bitcoin Price Down Today?
The BTC price today crashed by 2.50%, which can be attributed to the start of the week correction. Typically, Mondays are down days and price tends to correct and find support on Tuesday or Wednesday before it continues the dominant trend.
Will the trend remain bullish after this correction? Or has the Bitcoin uptrend reached its end?
Is Bitcoin Uptrend Finished?
Yes, the Bitcoin uptrend could be coming to an end, at least for a short time and investors must expect a steep double-digit correction.
Here are two reasons why a short-term retracement is likely.
Considering Bitcoin’s price action over the past seven months, local tops were formed around the $70,000 psychological level. This is the first reason.
The second and most crucial reason that investors need to be aware of is how the weekend rally could have set up a trap for greedy bulls. The 1.55% upswing over Saturday and Sunday pushed past the October 18 swing high of $69,049. But the bullish momentum failed to support the uptrend, creating a bearish swing failure pattern. This technical formation is observed for the first time since October 10 and as a result, Bitcoin price prediction hints at a potential reversal.
What’s Next for BTC Price?
While the long-term outlook remains bullish, this correction could see Bitcoin retrace to these critical support levels.
- $65,500 to $65,800 – a zone containing buy-side imbalances.
- $64,762 to $63,269 – the daily buy-side imbalance.
- $64,165 – this is the highest volume traded level for the past seven months.
Frequently Asked Questions (FAQs)
1. Why is Bitcoin's price down today?
2. Will Bitcoin's uptrend continue after this correction?
3. What are the key support levels for Bitcoin during this correction?
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.
Related Articles
- Crypto News: Strategy Bitcoin Underwater After 30% BTC Crash
- Expert Predicts Ethereum Crash Below $2K as Tom Lee’s BitMine ETH Unrealized Loss Hits $6B
- Bitcoin Falls Below $80K as Crypto Market Sees $2.5 Billion In Liquidations
- Top Reasons Why XRP Price Is Dropping Today
- Will Bitcoin Price Crash in 2026 as Market Volatility Rises?
- Here’s Why MSTR Stock Price Could Explode in February 2026
- Bitcoin and XRP Price Prediction After U.S. Government Shuts Down
- Ethereum Price Prediction As Vitalik Withdraws ETH Worth $44M- Is a Crash to $2k ahead?
- Bitcoin Price Prediction as Trump Names Kevin Warsh as new Fed Reserve Chair
- XRP Price Outlook Ahead of Possible Government Shutdown
- Ethereum and XRP Price Prediction as Odds of Trump Attack on Iran Rise
