Bitcoin Slips Below $103K After Moody’s US Downgrade: Is $100K in Danger?
The post Bitcoin Slips Below $103K After Moody’s US Downgrade: Is $100K in Danger? appeared on BitcoinEthereumNews.com.
Bitcoin dropped 3.62% to $102,666 after Moody’s downgraded the US credit rating. Bearish signals point to a test of $100K, with support at $95K to $91K. With Moody’s downgrade of the US credit rating from AAA to AA1, there has been a major pullback in both the US and crypto markets. The agency cited the ballooning $36 trillion national debt and rising interest costs as key drivers behind the cut, its first since assigning the U.S. a top-tier “Aaa” rating in 1919. Today, Bitcoin is down 3.62%, trading at $102,666. Will this intraday pullback lead to a breakdown of the $100,000 milestone? Bitcoin Price Analysis Bitcoin’s daily chart highlights a strong price reversal from the 50% Fibonacci level near the $75,500 supply zone, resulting in a near 40% rise, with the recent 24-hour high at $107,115. However, the intraday pullback undermined Sunday’s 3% gain, forming a bearish engulfing candle. Bitcoin Price Chart Increased supply pressure due to broader market fears, uncertainty, and doubt has caused short-term panic. The bearish engulfing candle forms near the strong overhead supply zone around the $106,000 mark, threatening a potential bearish trend reversal. Supporting the downside risk, the MACD and signal lines have given a bearish crossover. According to the price action, the immediate support lies at $98,349 if the $100,000 psychological support level fails. However, the Fibonacci levels indicate stronger support at $91,780, at the 78.60% level. This suggests a downside risk of nearly 10%. Additionally, a crucial support level exists at $95,269, marked by the 50-day exponential moving average. The dynamic average support is known for providing strong support, helping maintain the uptrend. Conversely, a potential reversal in the short-term price trend could push Bitcoin to a new all-time high, surpassing the $109,356 level. The Fibonacci levels suggest an upside potential to reach…
Filed under: News - @ May 19, 2025 4:24 pm