Key takeaways

• BTC is trading below $87k, down by less than 1% in the last 24 hours.
• The leading cryptocurrency could retest the $93k resistance level in the near term.

Bitcoin’s $83k support holds

Bitcoin briefly dropped below $84k on Tuesday but has bounced back and is now trading above $86k per coin. The bearish performance comes amid macroeconomic conditions due to global liquidity tightening, and confidence in crypto is also deteriorating further following the Yearn hack.

Analysts predict that Bitcoin’s price could suffer further bearish movements as we head into the last few weeks of the year. In an email to Coinjournal, Nick Forster, Founder at the onchain options platform, Derive.xyz, said that macro uncertainty continues to dominate. 

A BOJ tightening and ambiguity around a U.S. Fed cut continue to negatively affect Bitcoin and the broader cryptocurrency market.

“Volatility surged in response. BTC 30-day volatility jumped from 46% to 50% in the past 24 hours, while skew collapsed from -5% to -8% before recovering slightly to -6% at the time of writing. The move reflects aggressive demand for downside protection as traders reposition for further weakness,” Forster added.

The options market shows that 15% of traders predict Bitcoin’s price will drop below $80k by the end of the year. However, 21% are still optimistic about Bitcoin ending the year above $100k.

BTC eyes the $93k resistance

The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has underperformed over the past five days. The technical indicators are also bearish but could switch bullish if Bitcoin tops the $93k resistance level.

At press time, BTC is trading at $86,882 per coin. If the market recovery continues, BTC could rally towards the $93k resistance level over the next few hours or days. 

The 4-hour RSI of 40 shows a fading bearish trend as Bitcoin is no longer in the oversold area.

On the flipside, if the bears regain strength, Bitcoin could retest the $80k low created on November 21.

• Bitcoin price rose to near $93,000 on Friday before sell-off pressure resumed.
• Ethereum and XRP also climbed but faced key hurdles around $3,000 and $2.25.
• Sentiment remains downbeat across the crypto market despite notable gains for a few top altcoins.

The cryptocurrency market continued to witness a mixed outing on Friday, with Bitcoin retesting the $92,500 mark while Ethereum and XRP both broke to key resistance areas.

While gains indicated renewed investor optimism amid broader economic uncertainties, the swift retreat to below $91k for BTC highlights the fragile market sentiment.

Also, while Sky, Monero and Bitcoin Cash gained, Zcash, Dash and Aptos led the top losers in the leading 100 coins by market cap.

Bitcoin breaks to highs near $93k

Bitcoin’s price marked a decisive breach of the $92,500 resistance level by rising to near $93,000.

On Friday, the benchmark asset hit highs of $92,969 across major exchanges. However, the level has proved a robust barrier that means the quest to break higher towards the psychological $100 mark continues to evade bulls.

QCP Group analysts shared the short-term Bitcoin price outlook via an X post. They see mid-$90k levels as key supply wall zones, while major support remains in the $82k-$80k area.

“Options markets show caution even as year-end BTC call open interest stays heavy. Skew, IV and sentiment have softened, reinforcing a rangebound profile. Supply likely caps moves toward mid-90Ks, while support sits near 80–82K, leaving macro catalysts firmly in control of direction.”

Despite the dip to below $91k as of writing, BTC’s gains earlier in the day allowed layer-1 and layer-2 solutions on the Bitcoin network to post gains.

As noted, BounceBit and Stacks were among the Bitcoin ecosystem tokens to see an uptick.

But as prices have dipped again, rather than bounce higher, this latest move could be a dead cat bounce.

ETH and XRP face resistance

Like Bitcoin, Ethereum has struggled to sustain momentum. Recently, the top altcoin fell to lows of $2,600 after closing above $4,000 in late October. The breach of the $3,000 level threatened more pain for bulls.

However, after testing the demand reload zone, the ETH price has jumped back to the resistance area above $3,000.

That’s despite a 25% dip over the past month.

While prices are nearly 9% up in the past week, ETH’s inability to break higher reflects broader altcoin fatigue. Bitcoin’s drop to $90,504 at the time of writing suggests a potential downward cascade for ETH.

XRP has fared similarly, trading at $2.18 amid a 1.4% dip in the past 24 hours.

The token faces formidable overhead resistance at $2.25 and at $2.50. Per market data, the latter marks a level at which bulls have struggled since the crash on Oct. 10,2025.

The launch of spot XRP ETFs in recent days has failed to help bulls break higher.

Key takeaways

• BTC is up by less than 1% in the last 24 hours and is trading around $91,600.
• The coin could rally higher as spot Bitcoin ETFs continue to record inflows.

Bitcoin ETFs record inflows

Bitcoin’s price is trading above the $91,600 mark on Friday after rebounding from key support levels over the weekend. The positive performance comes as institutional demand for Bitcoin increases, easing the recent selling pressure.

Data obtained from SoSoValue revealed that US-listed spot Bitcoin ETFs recorded a mild inflow of $21.12 million on Wednesday, after a positive flow of $128.64 million the previous day. 

According to Glassnode’s weekly report, Bitcoin remains structurally fragile, as it is still trading below the $93k resistance level. The report added that with a weakening market structure, liquidity becomes the key lens for understanding what comes next.

Analysts are confident that the recent selling pressure is declining as volatility drops. In an email to Coinjournal, Dr. Sean Dawson, head of research at the onchain options platform, Derive.xyz, stated that the next phase would depend on the Fed’s interest rate decision in December. He stated that,

“Markets are balancing on a knife’s edge, but sentiment has stabilised meaningfully as expectations of a rate cut continue to recover. The probability of a 25 basis point cut at the upcoming FOMC meeting collapsed to 39% just a week ago, yet has since surged back to nearly 87%. In response, BTC has staged a strong rebound, rallying more than 10% from $82K to $91.5K at the time of writing.”

The shift in macro expectations has eased some of the intense bearish pressure that dominated the options market through late October and November. The 25-delta skew, a key measure of relative demand for puts versus calls, has moved sharply off its lows.

Bitcoin could extend its recovery towards the $100,000 mark

The BTC/USD 4-hour chart is bearish and efficient as Bitcoin has recovered excellently from its recent dip. The leading cryptocurrency found support around the key psychological level of $80,000 last week and has added 6% to its value since then. 

At press time, BTC is trading above $91k. If the recovery continues, it could extend the rally toward the next key psychological level at $100,000.

The Relative Strength Index (RSI) on the 4-hour chart is 61, pointing upward toward the overbought level, indicating a growing bullish momentum. Additionally, the Moving Average Convergence Divergence (MACD) showed a bullish crossover on Thursday, providing a buy signal and further supporting the potential continuation of the recovery.

However, failure to overcome the $93k resistance level could see Bitcoin retest the key support at $85,000.

The Bitcoin price has not quite been able to maintain the bullish momentum that saw it climb to a new all-time high last week. Instead, the premier cryptocurrency has succumbed to bearish pressure over the past few days, falling about 7% from its record-high price.

Unfortunately, the Bitcoin price seems to be at the start of what could be a disappointing downward run over the coming weeks. The latest technical price data indicate a potential bearish trend reversal for the price of BTC, with the market leader at risk of losing its six-figure valuation.

Which Technical Indicators Are Sounding The Sell Alarm?

In a May 30 post on the X platform, crypto analyst Burak Kesmeci provided a technical insight into the price of Bitcoin, explaining that signs are quickly turning bearish for the flagship cryptocurrency. The online pundit projected that BTC could face a severe price downturn to around the $93,000 level in the near future.

Related Reading

Kesmeci highlighted changes in some technical indicators on the daily timeframe, suggesting that a correction might be on the horizon for the Bitcoin price. One of these indicators is the daily Relative Strength Index (RSI), a momentum indicator that estimates the speed and magnitude of an asset’s price movements.

As observed in the chart above, the daily RSI is around 51 points and below the 14-day simple moving average (SMA). According to the crypto analyst, this technical indicator shift points to a weakening bullish momentum for the Bitcoin price.

Kesmeci also noted that the Fixed Range Volume Profile (FRVP), which analyzes trading volume around a price region, signals a heavy trading zone around the $103,500 level. A sustained close beneath this level could lead to elevated selling pressure for the flagship cryptocurrency, the analyst said.

Furthermore, Kesmeci mentioned that the AlphaTrend indicates that a second close below 106.269 may trigger a “sell” signal for the Bitcoin price. Meanwhile, the Average Directional Index (ADX) suggests that the bears are gaining the upper hand in the market.

Finally, Kesmeci pinpointed the next target at the 0.5 Fibonnaci level and the FRVP Value Area Low (VAL), both of which could be considered major support zones, at around $93,000 and $91,800, respectively. Ultimately, all these technical levels suggest that the Bitcoin price may correct to the $91,000 – $93,000 bracket.

Bitcoin Price At A Glance

As of this writing, the price of BTC is hovering around the $104,000 mark, reflecting an almost 2% decline in the past 24 hours.

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Featured image from iStock, chart from TradingView

This week’s market correction has seen Bitcoin (BTC), the largest cryptocurrency by market capitalization, retest some of its key support levels. As the price starts to recover from the recent lows, some analysts consider the weekend might bring some bullish relief for investors.

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Bitcoin Recovers From $78,000 Drop

Bitcoin has experienced significant selling pressure over the last week, fueling doubts about a potential market top. The flagship crypto has dropped 21% from last week’s high of $99,000, dipping below the $80,000 level for the first time since November.

The correction also saw BTC drop nearly 30% from its January all-time high (ATH) and trade below its post-US election price range. A week after the market bleeding started, Bitcoin hit a new three-month low, retesting the $78,000 support on Friday morning.

Various market watchers noted that BTC’s most recent decline reached and partially filled its November 2024 CME Gap between $78,000 and $80,700. Rekt Capital pointed out that Bitcoin is experiencing a “strong rebound against the partially filled CME Gap and is doing so on above-average seller volume.”

The flagship crypto has surged around 7% from today’s lows, hovering between the $83,000 and $84,000 support zone for the past few hours.

To the analyst, the CME Gap support and sell-side volume will be two key indicators to pay attention to over the weekend as constant, uninterrupted BTC sell-side pressure is unsustainable, and seller exhaustion potentially accelerates in the next few days.

Bitcoin is finally starting to experience above-average seller volume. There’s still scope for more seller volume to come in, but the chances of Seller Exhaustion occurring are increasing. And Seller Exhaustion tends to precede price reversals.

Is A Weekend Rebound Coming?

Crypto analyst Jelle highlighted that Bitcoin has done “three drives in deeply oversold territory” this week and is retesting the local lows before today’s drop, which suggests that a “weekend relief seems likely.”

The analyst stated that reclaiming the $84,500 support is key for BTC’s recovery as “the past two retests ended up resulting in new lows.”

Nonetheless, he noted that today’s rebound seems different due to BTC “touching the 200-ema cluster” for the first time this week and breaking above it. To Jelle, this could signal an “interesting weekend,” with the new CME Gap at $93,000 open.

Rekt Capital pointed out that Bitcoin “has filled every CME Gap that has formed since mid-March 2024” and that only the newly formed CME Gap between $92,800 and $94,000 remains open after this retrace. If BTC continues this pattern, the price could see a rebound to fill the new gap soon.

Related Reading

The analyst has outlined two potential scenarios for BTC’s current “downside deviation.” According to the post, Bitcoin’s price could revisit $93,500 by the end of the week if the deviation “is to end up as a downside wick.”

Meanwhile, if the deviation is “to end up as the Post-Halving deviation featuring Weekly Candle Closes below the Re-Accumulation range,” BTC’s price could revisit the $93,500 level in the next two to three weeks as “part of a post-breakdown relief rally.”

As of this writing, Bitcoin trades at $85,120, a 0.5% increase in the daily timeframe.

Featured Image from Unsplash.com, Chart from TradingView.com

Crypto prices today (February 19): Bitcoin (BTC) and leading altcoins prices again encountered a severe waning action recently, generating investor apprehensiveness across the broader landscape. BTC price dipped to touch a $93K low intraday, whereas Ethereum (ETH), Solana (SOL), and XRP prices cracked 1%-6% during the same period. Notably, the bearish momentum in the market is primarily attributable to a couple of risk factors, encompassing macroeconomic heat and other market statistics that are reducing investor appetite.

Here’s a brief report on some of the most buzzworthy coins for the day and the latest updates within the market that rationalize a bearish movement.

Crypto Prices Today Wane Alarmingly: Here’s Why

According to a recent CoinGape report, trade war speculations continue to rise as Donald Trump eyes new import tariffs. As a result, global markets took a hit, with risk assets like crypto facing severe heat amid investor uncertainty surrounding the sector’s outlook ahead.

Moreover, the U.S. Fed’s hawkish stance on monetary policies, signaling no rate cuts any time soon, has added to market concerns. Reportedly, traders anticipate only one Fed rate cut this year, further bringing heat to cryptocurrency prices. It’s worth mentioning that the digital assets sector recorded $348.88 million liquidated in the past 24 hours, per Coinglass data, aligning with the abovementioned factors causing market turmoil.

BTC Price Hits $93K Low Amid Crypto Market Heat

As of press time, BTC price traded at $95,659, down by 1% over the past day. The flagship coin swooped to a $93K low in the past 24 hours. This dipping trajectory aligns with $100.46 million worth of liquidations in the Bitcoin market, per Coinglass data. However, the coin’s dominance remained up by 0.47% from yesterday to 60.30%, signaling altcoins took more blows.

ETH Price Slips 1%

ETH price saw a slight fall of 1% over the past day, reaching $2,688. The coin’s 24-hour low and high were $2,606.90 and $2,730.28, respectively. Ethereum recorded $50.84 million worth of liquidations over the past 24 hours. Nevertheless, the crypto’s market dominance remained at 10.3%.

XRP Price Drops 4%

Ripple Labs-backed XRP price tanked by 4% intraday and is currently sitting at $2.55. The coin’s 24-hour low and high were $2.47 and $2.66, respectively. XRP’s fall aligns with $11.51 million worth of liquidations in the Ripple market intraday. However, it’s also worth mentioning that the U.S. SEC acknowledged Bitwise’s XRP ETF recently, glimmering hope for future prospects.

Solana Price Slumps 6%

SOL price crashed 6% from yesterday to reach $167, aligning with the broader market trend. Its bottom and peak in the last 24 hours were $161.31 and $177.94, respectively. Solana recorded a notable $36.77 million liquidated over the past day.

Meme Crypto Prices Today Mimic Broader Trend

Simultaneously, DOGE price was down over 2% today, trading at $0.2516. The meme coin saw $9.08 million liquidated over the past day, rationalizing a waning movement in sync with the broader market.

Similarly, SHIB price plunged by over 3% intraday and stood at $0.0000152. Also, PEPE and TRUMP prices cracked nearly 6%, closing in at $0.000009283 and $16.29, respectively.

Top Gainer Crypto Prices Today

However, some tokens have defied the broader market downtrend and hovered into the green zone on February 19.

Maker (MKR)

Price: $1,186.27
24-Hour Gains: +12%

Notably, MKR defies the broader market sentiment, seeing heightened investor interest, as flagged by a 33.72% spike in its futures OI to $93.07 million today.

Berachain (BERA)

Price: $6.44
24-Hour Gains: +8%

Similarly, BERA’s futures OI jumped over 2% to reach $146.53 million despite the recent investor uncertainty surrounding risk assets.

Litecoin (LTC)

Price: $133.09
24-Hour Gains: +7%

LTC saw a nearly 13% spike in its futures OI to $851.41 million, underscoring rising market interest amid soaring bets of a Litecoin ETF launch shortly ahead.

Top Loser Crypto Prices Today

Virtuals Protocol (VIRTUAL)

Price: $0.9898
24-Hour Loss: -14%

Ethena (ENA)

Price: $0.4196
24-Hour Loss: -11%

Raydium (RAY)

Price: $4.20
24-Hour Loss: -10%

Despite the broader waning price actions today, market watchers eagerly await a bounce back to previous levels. Meanwhile, BTC price gained by 0.02% within the hourly time frame, whereas ETH slipped by 0.01% within the same duration, indicating that further volatility may be expected as the day longs.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.