Bitcoin’s drop below $93,000 and its 50-week moving average signals renewed caution in the crypto market amid a steep weekly decline.
Bitcoin fell to $92,800 on February 18, its lowest level in seven months, representing a 13.4% loss over the past week and a 2.8% drop in the past day. The cryptocurrency’s breach of the 50-week moving average has heightened market caution, with analysts warning of increased downside risk.