{"id":49563,"date":"2025-12-18T15:44:11","date_gmt":"2025-12-18T20:44:11","guid":{"rendered":"https:\/\/bitcoinmagazine.com\/?p=49563"},"modified":"2025-12-18T15:44:16","modified_gmt":"2025-12-18T20:44:16","slug":"bitcoin-price-crashes-is-70000-next","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/markets\/bitcoin-price-crashes-is-70000-next","title":{"rendered":"Bitcoin Price Crashes to $84,000 \u2013 Is $70,000 Next?"},"content":{"rendered":"
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The bitcoin price dropped sharply today after a brief pump<\/a> near $90,000, sliding to $84,544 as the price sell-off continued into its second month.\u00a0<\/p>\n\n\n\n

Bitcoin lost<\/a> 2% over the past 24 hours. It remains 5% below its seven-day high of $89,220 and hovers near the week\u2019s low of $84,596. Trading volume reached $56 billion. Bitcoin\u2019s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data. <\/p>\n\n\n\n

The drop follows a brief rally that earlier saw the Bitcoin price test $89,000. The surge came after the U.S. released new Consumer Price Index data. Inflation rose 2.7% year over year in November, lower than expected. Core CPI, which excludes food and energy, fell to 2.6%, the lowest since early 2021.<\/p>\n\n\n\n

Bitcoin jumped from intraday lows near $86,000 to challenge $89,000. Traders viewed the cooler inflation report as a potential signal for looser Federal Reserve policy in 2026. CME FedWatch data suggested slightly higher odds of a rate cut by March, though January moves remain unlikely.<\/p>\n\n\n\n

The rally did not last. The bitcoin price failed to break $90,000 and slid to $84,4000. This pattern is familiar: sharp spikes<\/a> followed by quick retracements.<\/p>\n\n\n\n

What\u2019s dragging down the bitcoin price?<\/h2>\n\n\n\n

A persistent challenge is U.S.-listed spot Bitcoin ETFs. These funds, once a major source of demand, have seen net redemptions. The outflows<\/a> remove institutional support that previously helped stabilize the price. Without consistent ETF inflows, breakouts above $89,000 are harder to sustain.<\/p>\n\n\n\n

Other economic indicators add uncertainty. Recent labor market data<\/a> showed U.S. unemployment rising to 4.6%, its highest since 2021. Job growth remains uneven. The mixed signals complicate Federal Reserve policy, suggesting a cautious approach despite easing inflation.<\/p>\n\n\n\n

Political factors add to market complexity. President Donald Trump has publicly urged lower interest rates and suggested nominating a Fed chair favoring aggressive easing. Markets have largely treated the comments as noise, but the statements add a variable to the macro picture.<\/p>\n\n\n\n

Technically, the bitcoin price is consolidating rather than trending. Resistance forms just below $90,000. Supply above this level remains strong, held by investors who bought during prior rallies.\u00a0<\/p>\n\n\n\n

Analysts at Bitwise recently suggested<\/a> Bitcoin could break its historical four-year cycle. The firm noted BTC might reach new all-time highs in 2026 with lower volatility and reduced correlation to equities.<\/p>\n\n\n\n

The Bitcoin Fear and Greed Index currently sits<\/a> at 17\/100, signaling extreme fear. Historically, readings in this range have coincided with undervaluation. Contrarian investors see potential buying opportunities, though sentiment remains cautious.<\/p>\n\n\n\n

Is $70,000 next?\u00a0<\/h2>\n\n\n\n

Technical analysts from Bitcoin Magazine wrote earlier this week that the $84,000 support level is under pressure<\/a>. If the bitcoin price falls below this point, it could test the $72,000 to $68,000 zone. Initial bounces are expected, but a break below $84,000 could trigger faster declines toward $70,000.<\/p>\n\n\n\n

Bitcoin\u2019s price may drop to the $72,000\u2013$68,000 support zone after breaking the $84,000 level, with bears currently in control. A strong bounce is likely from that lower zone, potentially retesting $84,000, though the 4-Year Cycle suggests further downside could occur later in 2026.<\/p>\n\n\n\n

Resistance extends from $94,000 to $118,000. Bulls will need substantial buying volume to break above these levels, per Bitcoin Magazine<\/em> analysts. <\/p>\n\n\n\n

Short-term momentum favors sellers. Last week, the Bitcoin price closed the weekly candle in red, failing to sustain gains near $94,000. Bears are well-positioned to push prices lower this week.\u00a0<\/p>\n\n\n\n

At the time of writing, the bitcoin price is $84,812. Trading volume reached $56 billion. Bitcoin\u2019s market capitalization stands at $1.69 trillion. The circulating supply is roughly 19.96 million BTC out of a total 21 million, according to Bitcoin Magazine Pro data.\u00a0<\/p>\n\n\n\n

\"Bitcoin<\/figure>\n","protected":false},"excerpt":{"rendered":"

The bitcoin price experienced two more aggressive dumps today, now trading near $84,500.<\/p>\n","protected":false},"author":3817,"featured_media":49565,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[34],"tags":[132,901,345,247],"class_list":{"0":"post-49563","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bitcoin-price","9":"tag-bitcoin-support","10":"tag-price","11":"tag-price-action"},"author_data":{"id":3817,"name":"Micah Zimmerman","nicename":"micahzimmerman","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/11\/Micah_Zimmerman_Author_Image.jpg"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2025\/12\/Bitcoin-Price-Crashes-to-84000-\u2013-Is-70000-Next.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/49563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3817"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=49563"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/49563\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/49565"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=49563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=49563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=49563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}