Bitcoin has experienced its worst daily loss since October, declining over 6% to breach the key $84,000 support level. A wave of long liquidations—exceeding $900 million—has accelerated selling pressure, with more than 80% occurring in just 12 hours. The move appears linked to a broader risk-off sentiment triggered by Microsoft’s sharp drop following concerns over its cloud unit and AI spending.
Technical analysis confirms a bear flag pattern on the daily chart, suggesting a near-term downside target of $74,000. More significantly, Bitcoin has broken below its 50-week Exponential Moving Average (EMA), mirroring a pattern seen in the 2021 cycle that preceded a steep collapse. If history repeats, this opens the door to a long-term correction toward $36,000.
Altcoins have suffered even steeper losses, between 7–8%, underscoring the broad market downturn. While current liquidations remain below October’s extreme, the breakdown of key supports, elevated volume, and absence of buyers signal a firmly bearish shift. Analysts warn that the failure to hold $84,000 could rapidly deepen losses, marking what may already be considered a crypto bear market.
Key Points :
Bitcoin fell 6.5%, breaking below $84,000 support amid massive long liquidations (>$900M).
A confirmed bear flag pattern points to a near-term drop toward $74,000.
Breakdown below the 50-week EMA suggests potential for a deeper long-term correction to $36,000, echoing the 2021 bear market structure.
Selling was exacerbated by a risk-off move linked to Microsoft’s 12% stock decline.
Altcoins (ETH, SOL, XRP) fell 7–8%, indicating broad crypto market weakness.
Volume spiked 40–60%, reflecting strong selling interest and lack of buyer support.
Analysts recommend protective strategies, such as long-dated put options, for BTC-heavy portfolios.
