Key Takeaways
- Bitcoin’s price trading below the 50-day and 200-day EMAs continues to trouble long-term traders and investors.
- Will BTC’s price action replicate the historically favourable month of April ahead of the second quarter?
- Bitcoin’s price reclaiming its price above $95,000 would ignite renewed bullish hopes.
The price of Bitcoin (BTC) has dropped from a high of $109,000 by over 30% since the start of 2025, leading to uncertainties in the recent price action. Altcoins such as Ethereum (ETH), Dogecoin (DOGE), Ripple (XRP), and Solana (SOL) have also suffered a price decline of over 40% as traders and investors continue to lose their patience.
The current market price action has come as a shock for many traders, with the Bitcoin fear and greed index hitting a low of 20 for the first time in weeks since October 2024. Speculations of Bitcoin’s price closing below its key area of $80,000 continue to mount, and Bitcoin price prediction is heading to a possible $70,000.
According to historical data, Bitcoin (BTC) showed a strong price bounce to the upside in April but struggled in the second quarter of the year. Will this time around be different, considering uncertainties surrounding the US tariff hike have been affecting the price of crypto assets for weeks now?
Bitcoin Historical Price Performance In April
Source – Bitcoin past monthly price history from Coinglass
Historically, the price of Bitcoin and the crypto market have shown strong resilience in April, leading to May, but have struggled in the second quarter of each year. Following recent price action and market uncertainties affecting the crypto market, investors and traders hope the cryptocurrency market shows some price bounce, especially for Bitcoin trades with less uptrend price action.
A renewed price bounce to the upside for BTC and altcoins could spark strong optimism around the market, as the market could build on such momentum to rally to the upside. While this potential remains on balance, BTC’s price close ahead of March could set the tone for what the following month would bring, either to the upside or a price crash toward $70,000.
Bitcoin’s Price Analysis Ahead Of Monthly Close
Source – BTC’s 1D Price Chart From TradingView
The price of BTC trading below its 50-day and 200-day EMAs (Exponential Moving Averages) ahead of the monthly close is worrying, considering that the price has shown incredible bullish price action but has struggled in recent times to rally above $95,000, which acts as strong resistance.
If the price of BTC struggles to break above $90,000, there are high chances of the price trading below $80,000 following repeated price rejection around this region. With the monthly close imminent and the possibility of BTC’s price trading above $90,000 continuing to look less promising, traders and investors will pay close attention to price action for BTC.
