Bitcoin 23/09 : Bitcoin Drops Significantly On Monday

2025-09-23 02:16:37

(MENAFN- Daily Forex)

Bitcoin has dropped significantly during the early hours on Monday, breaking below the 50 Day EMA, showing signs of weakness. All things being equal, this is a market that has recently rallied quite a bit, after dropping pretty significantly.
When you look at the longer-term trend, we have a“lower low”, and potentially a“lower high”, as we have seen so much selling pressure. At this point, you have to ask the question of whether or not crypto markets are going to start suffering at the hands risk appetite. After all, structurally speaking at least, we are starting to drop a bit.

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The $117,000 level has been significant resistance, but if we can break above there, then it opens up the possibility of a move to the $120,000 level, possibly even the $124,000 level. We just broke below the 50 Day EMA, and the 50 Day EMA of course is an indicator that a lot of people will be paying close attention to. The $110,000 level is a large, round, psychologically significant figure that a lot of people will be watching as potential support, and then once we break down below there, the $107,000 level comes into the scenario as a potential floor. The 200 Day EMA is sitting at the $106,000 level and is rising. The market will be looking at that as a potential signal, and if we were to break down below the 200 Day EMA, then it's possible that we will fall apart.

Looking at this chart, we need to make some type of decision here, and it'll be interesting to see if Monday was the beginning of that decision. Quite frankly, if we do start to fall significantly, I'm sure there will be plenty of Bitcoin believers that will be willing to buy dips, but that doesn't necessarily mean that institutional traders will be that excited. I think we are definitely getting a bit“frothy” in general, but at this point in time I think I can say that about risk appetite and risk assets in general, this is not just the Bitcoin problem.

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