Bitcoin’s value fell 3.07% to $95,086 on Feb. 21, 2025, as markets reacted to a $1.4 billion hack at Bybit and technical indicators signaled bearish strain.
Bearish Indicators Dominate Bitcoin Charts Amid Safety Breach Fallout
Bitcoin traded inside a 24-hour vary of $95,086 to $99,504, reflecting heightened volatility following the breach of Bybit’s Ethereum chilly pockets. The trade confirmed buyer funds remained safe, however the incident amplified investor warning. Bitcoin’s market cap held at $1.88 trillion regardless of a $45.55 billion each day buying and selling quantity, underscoring the tug-of-war between panic promoting and discount looking. The breach’s timing exacerbated present technical weaknesses, with costs struggling to reclaim $100,000 resistance.
Oscillators painted a blended however cautious image. The relative energy index (RSI) at 44 and Stochastic at 52 each signaled neutrality, whereas the shifting common convergence divergence (MACD) at -887 flashed a uncommon purchase sign. Nonetheless, momentum at -180 and the superior oscillator at -3,288 bolstered bearish near-term sentiment. The commodity channel index (CCI) at -25 and common directional index (ADX) at 32 additional highlighted indecision, urging merchants to await clearer indicators as issues pan out.
The each day chart revealed consolidation between $95,000 and $100,000, with decrease highs and lows eroding bullish momentum. A crucial help zone close to $92,000–$94,000 emerged as a possible rebound space, whereas resistance loomed at $100,000–$102,000. Notably, larger quantity on purple candles indicated persistent promoting strain.
BTC/USD 1D chart by way of Bitstamp on Feb. 21, 2025, following the Bybit hack.
The 4-hour chart confirmed a pointy rejection at $99,500, adopted by a plunge to $95,000 and tentative stabilization close to $93,300 help. Excessive-volume purple candles underscored panic promoting, although consumers tried a restoration. Equally, the 1-hour chart confirmed a downtrend with a $99,500 decrease excessive and weak protection of $95,000. Merchants eyed a breakdown beneath $94,500 or a reclaim of $97,000+ with quantity to substantiate directional bias.
BTC/USD 4H chart by way of Bitstamp on Feb. 21, 2025, following the Bybit hack.
All short-term exponential shifting averages (EMA 10, 20, 30, 50) and easy shifting averages (SMA 10, 20, 30, 50) issued promote indicators, with EMAs between $96,749 and $97,906 capping upside. Longer-term EMAs (100, 200) and SMAs (200) at $94,029, $85,348, and $80,929, respectively, supplied purchase indicators, hinting at eventual bullish reversals. Nonetheless, the dominance of bearish near-term MAs steered continued strain except bulls decisively breach $97,000.
Bitcoin’s trajectory hinges on holding $95,000 or breaking decrease towards $92,000. A reclaim of $97,000–$98,500 might revive bullish momentum, however merchants should prioritize danger administration amid post-hack uncertainty. Confirmations by way of quantity and value motion are crucial earlier than getting into trades. Whereas long-term indicators recommend eventual stability, short-term methods ought to align with bearish technicals and heightened market sensitivity to detrimental catalysts.
Bull Verdict:
A sustained bitcoin value above $95,000, coupled with the shifting common convergence divergence (MACD 12, 26) purchase sign and long-term help from the exponential shifting common (EMA 200) at $85,348, might gas a bullish reversal. A decisive breakout above $97,000–$98,500 with quantity might invalidate the lower-high sample, concentrating on $100,000 resistance. Longer-term EMAs and SMAs (100, 200) recommend underlying energy, providing a basis for bulls to regain management if macroeconomic and technical headwinds ease.
Bear Verdict:
Dominant promote indicators from short-term shifting averages (EMA 10, 20, 30, 50 and SMA 10, 20, 30, 50), mixed with bearish momentum (10) and panic-selling quantity, favor draw back momentum. A breakdown beneath $95,000 dangers accelerating losses towards $92,000–$93,300 help. The failure to reclaim $99,500 and the each day chart’s lower-high construction reinforce bearish management. Till bulls reclaim $97,000, the trail of least resistance stays skewed towards additional consolidation or declines amid post-hack danger aversion.
