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Bitcoin Struggles to Maintain $100,000 Amid Economic Uncertainty

Bitcoin’s drop beneath the 50-week moving average intensifies market caution, marking a 13% weekly decline amid broader crypto sector weakness.

BTC

Summary

Bitcoin fell below $93,000 on February 18, reaching its lowest level in seven months. The cryptocurrency recorded a 13.4% decline over the past week and a 2.8% drop in the past day. Analysts highlighted that falling under the 50-week moving average has reinforced a cautious tone in the market. The downturn follows earlier struggles to maintain the $100,000 mark amid fading Federal Reserve interest rate cut expectations and heightened economic uncertainty.

Terms & Concepts
  • 50-week Moving Average: A technical indicator showing the average closing price of an asset over the past 50 weeks, often used to identify long-term trends.
  • Federal Reserve: The central banking system of the United States, which sets monetary policy including interest rates.
  • Risk Aversion: A market tendency where investors reduce exposure to risky assets in favor of safer investments during uncertainty.