Will the price of bitcoin be crashed again?

Bitcoin (Btc) tapped $ 92,700 during the first hour of Asia on March 6, 19% above Feb. 28 less than $ 78,200 as a sentiment that improved throughout the board.

The recent denial of $ 94,500, however, raises questions about whether the BTC price may decrease in the next few days.

White House Crypto Summit: Sell-the-News?

The White House Crypto Summit The scheduled for March 7 has markets that stand up with optimism, expecting a pro-crypto framework. However, it can be a “sell-the-news” event, leading to another drawdown on crypto prices.

Key Takeaways:

• US president Donald Trump will Mago -Host of the first White House Crypto Summit On March 7th.

• The Summit aims to combine industry leaders to discuss regulatory policies, Stablecoin Oversight, and the potential role of cryptocurrencies in the US financial system.

• The Dadalo will include well -known industry leaders, including strategy founder Michael Saylor, CEO of Ripple Brad Garlinghouse and CEO of Coinbase Brian Armstrong, along with members of the Working group of president In digital property.

• While Trump’s administration has Signal support For the crypto industry, the outcomes of the summit will remain unsure.

• A heavy regulation approach-say, KYC’s strict rules for Bitcoin’s handling or taxation on the unlucky gains-can spook investors.

• Past crashes, such as 2022 collapse after Sec crackdowns by BidenShow how bitcoin sensitive is to policy changes.

• If the summits fail or identify the unexpected burdens of compliance, we will see a seller, with a Bitcoin fall of 20-30% in the days, as the patterns in history suggest.

Previously, Bitcoin was briefly rebound following Trump’s announcement of a strategic crypto reserve, but “it became another ‘Sell-The-News’ event, with prices that continue to fall and trade below their pre-announcement levels,” Market Intelligence Firm Glassnode Says In the latest on-chain report.

After the first rises to $ 95,150 following the news on March 2, the price of Bitcoin fell 15% to a low $ 81,483 on March 4.

Related: Trump may be the “raging bull” of crypto, yet the EU may have the upper hand

Bitcoin price levels to watch

Bitcoin reached a $ 92,000 level on March 6 before the retirement. Traders are now focusing on the key areas below this level, which can be revisited by the BTC price in the near future.

Significant -noting:

• Bitcoin’s major levels to watch on the downside immediately are the main support of $ 87,200 and the 200-day Simple moving average (SMA) at $ 82,908.

• Below, the first place of interest lies between two recent sets of lows at $ 81,463 (formed on March 4) and $ 78,200 (formed on Feb. 28).

• The BTC will potentially target the liquidity cluster around these levels if the support of $ 90,000 is lost.

• An immediate reprieve for Bulls would be a sharp return from this range, which would indicate the purchase of interest below the 200-day SMA.

• Otherwise, the BTC can test the next interest area between $ 74,500 and $ 75,800 before filling out the fair amount of the gap below its $ 70,000.

• The above chart also shows a major overhead resist zone between $ 92,000 and $ 97,400 (where 50-day and 100-day SMAs appear.

• The overcome of this barrier will confirm the end of the downtrend as the bulls are looking at $ 100,000 and more.

The basis of the short-term holder (STH) that is the basis of $ 92,000 is a major level to watch because it has “history to act as an important reference level throughout the Bull-Market uprising,” explained glassnode analysts.

“The decisive reactions around the short-term cost-basis at $ 92K will appear to be a major level to monitor for the local momentum. If the market is further worse, the region of $ 71K is a major area of ​​interest.”

According to Glassnode, the active realized price trades at $ 70,000, which aligns on the basis of the STH-cost lower band, making it a major area of ​​interest.

“By significantly relevant to the many basic costs of the cost of the cost, the region of this price becomes a place of interest, perhaps the final defense line for the bulls in the event of complete capitulation.”

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.