Bitcoin Plunges Below $73,000 Amid Renewed Selling Pressure

Bitcoin Plunges Below $73,000 Amid Renewed Selling Pressure

Bitcoin has shattered the $73,000 barrier, marking its lowest point since November 2024, as investors resume heavy selling driven by escalating geopolitical tensions and economic instability. This sharp drop echoes recent technical breakdowns, with prices tumbling below key supports like the 75,000 level previously seen as robust. Traders are reacting to persistent ETF outflows and macroeconomic headwinds, amplifying the downturn on Tuesday.

Technical Breakdown and Market Drivers

Analysis reveals Bitcoin breaching critical thresholds, including the 200-day moving average, with the RSI signaling deeply oversold conditions around 23. Institutional retreats via spot ETFs, totaling billions in recent months, have slowed but still weigh on sentiment. Forecasts diverge: some predict further slides toward $65,000, while others eye rebounds from $72,000-$74,000 zones if support holds amid improving macro indicators.

Future Outlook and Investor Caution

February's historical bullish average of 14% offers hope, yet current bearish channels suggest caution. AI models project end-month targets from $72,500 to $82,500, highlighting volatility. Investors should monitor resistance at $81,000 for reversal signals, hedging against uncertainties while preparing for potential stabilization as selling pressure eases.