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Bitcoin ($BTC) has plunged more than 7% in a single day, falling to $87,000 on February 25, its lowest level since November 2024. The sharp decline has pushed $BTC into a critical risk zone, fueling speculation on whether the breakdown is temporary or signals a deeper correction.
In this context, crypto analyst RLinda has highlighted emerging key price levels that could potentially anchor Bitcoin’s next major move.
Technical analysis: Bitcoin key price levels to watch
According to the analysis, Bitcoin is testing a key support range between $89,400 and $90,000, a crucial level that could determine its next major move. The analyst notes that on both daily and weekly timeframes, $BTC remains in global consolidation, with the $90,000 to $91,000 zone acting as a strong support level.
On shorter timeframes, Bitcoin is hovering near local channel support, making this a decisive area for traders. If bulls hold the $89,400 to $90,000 zone, $BTC could stage a rebound toward $94,000.
However, if the level fails, a breakdown below $89,400 could accelerate selling pressure and open the door for further losses.
Recent price action shows $BTC has broken below key support levels, invalidating previous bullish structures and pointing toward deeper retracements. However, the maiden cryptocurrency has since rebounded, trading at $89,040 at press time.
The analyst points to resistance levels at $94,800 and $99,200, while immediate support remains at $91,280 and $89,400. The market is now watching for confirmation of Bitcoin’s next direction, with a stabilization above critical support levels seen as a key factor in regaining momentum.
Despite the market uncertainty, Founder of MN Capital Michael van de Poppe noted that the area between $83,000 and $87,000 could represent the “ultimate bottom case” before $BTC begins rotating upward into a new bullish phase.
Bitcoin price analysis
At press time, Bitcoin was trading at $89,014, marking a one-day loss of over 7% as selling pressure intensified.
The decline follows persistent outflows from U.S.-based Bitcoin spot ETFs, with February 24 recording a single-day outflow of $516.4 million, coinciding with Donald Trump’s renewed tariff threats.
Market sentiment remains largely bearish, with traders closely watching whether $BTC can stabilize above critical support levels or face further downside amid mounting economic headwinds.
Reflecting the worsening sentiment, the Crypto Fear & Greed Index has dropped to ‘Extreme Fear’, signaling heightened investor anxiety and the potential for increased volatility in the near term.
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