Bitcoin Plunges, Testing Crucial Support
Update: 2025-11-17
Description
Bitcoins recent plunge, dropping below ninety-three thousand dollars, has triggered a cautious mood in the digital asset market. Analysts at QCP Capital highlight the break below the fifty-week moving average and the potential end of the four-year crypto cycle as contributing factors. Bitcoin is nearing a crucial support level of ninety-two thousand dollars, with an unfilled CME gap in the region potentially causing a short-term bounce. However, heavy overhead supply and macroeconomic uncertainties keep the overall picture fragile. Prediction market users now believe theres a sixty-three percent chance Bitcoin will drop to eighty-five thousand dollars before reaching one hundred fifteen thousand dollars.
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