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.
Bitcoin price analysis chart. Source: RLinda/TradingView
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.
BTC one-day price chart. Source: Finbold
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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