BTCUSD Market Update: Sharply Down from the Monthly Peak Pressuring Crypto Sell-Off
Bitcoin has dropped sharply, falling around 15% from its monthly high, putting key support levels under pressure and shifting short-term sentiment firmly to the cautious side.
The sell-off reflects growing risk-off behaviour across crypto markets, giving a clear alert for the scalpers or day traders.
What’s Driving the Move?
Strong Selling: Bitcoin has broken below its November uptrend, showing weaker momentum after failing to hold higher levels.
Key Support: Price is now hovering near important support zones. A clear break below could open the door to losses ahead.
Risk Caution: Broader caution in financial markets and reduced appetite for high-risk assets are weighing on crypto prices.
Other coins in focus:
- Bitcoin struggles to stay above $88,000
- Ethereum has dropped under $3,000
- XRP continues to fall below $1.90
Overall, the economic events are making the crypto market weak, especially after the steady (Fed)Federal Reserve interest rates at 3.50%-3.75% following its latest meeting.
This sharp pullback is a warning for short-term traders. It’s a good time to manage risk carefully, keep position sizes conservative, and watch key support levels closely before making aggressive trades.
