Price Analysis

Why is Bitcoin Price Down Today?

Uncover why Bitcoin price today is down nearly 4% and also what experts are expecting from BTC in the next two weeks of January 2025.
Published by
Why is Bitcoin Price Down Today?

Highlights

  • Bitcoin price down nearly 4% and trades at $90,760.
  • Strong jobs market and hawkish Fed outlook contribute to Bitcoin's uncertainty.
  • Key support level for Bitcoin is $90,804, with potential crash to $73,646 if broken.

Bitcoin (BTC) has had a shadow of uncertainty follow it for the past few months as it consolidates around $100,000. Today Bitcoin price today is down -0.04% and trades at $94,395.0. As a result, Ethereum (ETH) and Ripple (XRP) have also dropped -3.81% and 2.4%, respectively.

Advertisement

Bitcoin Price Today

Bitcoin price chart today shows a steep correction that retested the $90,000 psychological level.

*bitcoin price updated as of 11 PM.

Advertisement

Here’s Why Bitcoin is Crashing Today

One reason for Bitcoin’s recent crash can be attributed to the strong jobs market, which has further decreased the odds of a rate cut in 2025. In the recent FOMC meeting, the US Federal Reserve slashed the anticipated rate cuts in 2025 from five to two. However, after the recent Nonfarm Payroll (NFP) report, markets have not been optimistic about rate cuts. As a result of this hawkish outlook, Bitcoin has shown uncertainty over the past few weeks and no directional bias whatsoever.

The second reason for this crash is Bitcoin’s technicals. The rally that began on November 3, 2024, pushed BTC’s value from a low of $67,000 to $100,000 in just 30 days. This sudden uptrend has left many inefficiencies, so technicals indicate that a reversal is likely due to exhaustion and profit-taking.

The third reason is a mix of investor sentiment connected to profit-taking and President-elect Donald Trump’s inauguration. The exponential rally that began in November 2024 was mainly driven by speculations of Trump’s victory. Hence, these traders are likely to close their positions ahead of the January 20 inauguration ceremony. This speculation of January 20 being a sell-the-news event failed as Bitcoin or crypto markets lacked 2024’s bullish momentum.

Advertisement

BTC Technical Analysis: Key Support Levels & Targets

From a technical standpoint, key support level where investors could watch for a reversal is $90,804. If price fails to hold this level, then a crash to $89,355, 85,083, & 73,646 levels can be expected.

Hinting at a collapse is Deribit’s Head Lin, who points out that options market shows a 32% probability of “BTC breaking through 100,000 by the end of the month.” Options traders echo this bearish sentiment due to uncertainty surrounding Bitcoin and crypto.

BTC/USDT 4-hour chart

Peter Brandt, a veteran trader, also added a similar bearish outlook for Bitcoin. Brandt noted BTC was forming a “classic H&S top pattern” and could “complete and trend to target.” The popular trader’s Bitcoin price prediction notes a target of roughly $77,000.

He also added two more narratives that could unfold, where the pattern could “fail with bear trap” or “morph into larger pattern.”

On the other hand, if Bitcoin bounces off the $90,804 support level, it could target the buy-side liquidity resting above the equal highs formed at the $102,810 level. Beyond this, the next critical level is the current ATH of $108,374.

Advertisement

Frequently Asked Questions

What are the reasons behind Bitcoin's recent crash?

The strong jobs market, technical exhaustion, and profit-taking ahead of President-elect Donald Trump's inauguration are contributing factors.

What is the key support level for Bitcoin, and what could happen if it breaks?

The key support level is $90,804. If it breaks, Bitcoin could crash to $89,355, $85,083, and potentially $73,646.

What are the bearish predictions from experts like Peter Brandt?

Peter Brandt predicts a "classic H&S top pattern" with a potential target of roughly $77,000, while also noting possible alternative narratives.
Share
Akash Girimath

Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and 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.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Price Analysis

FLOKI Price Prediction as ETP Listing Drives Adoption—Is a 160% Rally Ahead?

Floki price has drawn strong attention after recording a bullish daily surge of over 30%.…

October 4, 2025
  • Price Analysis

BNB Coin Price Hits ATH as Derivatives Activity Soars—Is $1,520 the Next Stop?

BNB Coin price has entered a powerful phase after breaking through a major resistance level…

October 4, 2025
  • Price Analysis

Aster Price Eyes $3 After Channel Breakout as Open Interest Surges to $1.37B

Aster price has recently shown strong signals on the chart, with a breakout from its…

October 3, 2025
  • Price Analysis

Will XRP Price Hit $5 if the SEC Approves ETFs This Month?

XRP price could be on the cusp of a big move in the coming weeks…

October 3, 2025
  • Price Analysis

Bitcoin Price Hits $120K Ahead of Q4 — Can Citigroup’s Forecast Hold Up?

Bitcoin price has recently surged to the $120K mark, reclaiming momentum and sparking fresh optimism…

October 3, 2025
  • Price Analysis

Pi Network Price at Risk of Another Crash as Mysterious Whale Stops Buying

Pi Network price has crashed by over 90% from its highest level since its mainnet…

October 2, 2025