Bitcoin Market Update

Top digital asset Bitcoin (BTC) fell to the $82,000 price level yesterday, but buyers jumped in, stopping the cryptocurrency from going under $80,000.

Currently, BTC is trading at $85,747.56, a decrease of more than 3% since yesterday, according to CoinMarketCap data. This negative sentiment was reinforced by the Fear and Greed Index falling to 10.

Extreme Fear Grips Bitcoin Market

According to data from alternative.me, the drop in the Bitcoin Fear and Greed Index to 10 signals extreme fear among investors.

Interestingly, this level of fear is not as high as during the FTX collapse in November 2022, when Bitcoin traded under $20,000. Even amid the current selloff, Rich Dad, Poor Dad author Robert Kiyosaki remains optimistic about BTC. In a social media post, Kiyosaki views the current Bitcoin price decline as a buying opportunity rather than a cause for concern. He reaffirmed his belief in BTC as a hedge against traditional financial systems, claiming they are laden with excessive debt and economic instability. He stated, “When Bitcoin crashes, I smile and buy more,” adding that BTC is “money with integrity.”

> BITCOIN CRASHING
> Bitcoin is on SALE
> I AM BUYING
>
> WHY: The problem is not BITCOIN
> THE PROBLEM is our Monetary System and our criminal bankers.
>
> America’s bankrupt. Our debt including social programs, such as Medicare and Social Security, including our $36 trillion debt is…
> — Robert Kiyosaki (@theRealKiyosaki) February 27, 2025

Bitcoin Price Plunge Triggers Massive Liquidations

The Bitcoin price plunge led to liquidations worth $769.61 million in the past 24 hours. According to Coinglass data, $606.44 million in long positions and $163.19 million in short positions were wiped out as BTC dipped to $82,000 briefly, affecting over 185,715 traders.

Technical Analysis: Bitcoin at Key Support Level

Examining the daily chart from TradingView, Bitcoin recently broke below the middle Bollinger Band, indicating more selling pressure. The price is now close to the lower band, which often serves as dynamic support. If BTC remains above this level, a short-term bounce back towards the middle band (around $94,877) is a possibility.

Bearish MACD Indicator Signals Seller Dominance

The Moving Average Convergence Divergence (MACD) indicator remains negative, with the MACD line (blue) below the signal line. The MACD histogram shows increasing red bars, suggesting that sellers dominate Bitcoin price action.

Disclaimer: The information presented in this article is for informational and educational purposes only. This article does not constitute financial advice. Coin Edition is not responsible for any losses incurred as a result of utilizing content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.