news 
Bitcoin Dumps Below $75K Again Amid Persistent Strategy BTC Selloff Rumors
The crypto market is experiencing a tumultuous period, with the leading cryptocurrency, Bitcoin (BTC), plummeting below $75,000. This significant decline has been fueled by persistent rumors of strategic selloffs in the market.
As traders continue to grapple with this uncertainty, the Relative Strength Index (RSI) shows that the asset is approaching oversold territory, but not quite there yet. This could lead to a bullish reversal if the RSI drops further. It is crucial for investors to keep an eye on resistance around $80,000, as a psychological barrier and recent high.
Notably, the Bollinger Bands are showing Bitcoin touching the lower band earlier today, which often signifies that the price has become stretched in the downside. This could potentially trigger a short-term rebound if candles start closing above this boundary. However, failure to reclaim the middle band (approximately $78,900) could prolong the current downtrend.
It’s worth noting that some analysts are hinting that Bitcoin may have entered its “bottom zone”, which could result in a rapid increase in the near future. CryptoElites claimed on Twitter that the market has reset its leverage and is poised to re-enter an accumulation phase.
Additionally, Santiment suggested that once macroeconomic tensions subside, the crypto market might witness an aggressive recovery. However, they did caution that traders should expect wild price swings until a global tariff solution is reached.
It’s crucial for investors to stay vigilant and adapt their strategies in response to these developments, as the situation remains volatile.
Source: https://www.coinspeaker.com/bitcoin-dumps-below-75k-again-amid-persistent-strategy-btc-selloff-rumors/
