Bitcoin price is declining and may fall to $ 25,000

Bitcoin fell below a key support level after a major stock sell-off in the US last week, which spooked the cryptocurrency market and caused bitcoin to drop by about 10%. The sale of bitcoins by the Terra Foundation also added fuel to the fire.

According to Vijay Aiyar, vice president of corporate development and international relations at Luno, the crypto exchange, BTC has lost a key level, falling below $ 37 500, which could mean further downward movement over the next few days. According to him, the next downward stop is $ 30,000, but if bitcoin does not hold at this level, it could fall to $ 25,000.

According to Will Clemente, a leading analyst at Blockware Solutions, the supply of bitcoin, which has not changed for at least a year, has reached a record level. At the same time, institutional investors use any decline as an excuse to buy as much of the No. 1 cryptocurrency as possible and are not worried about it yet, but rather seize the opportunity.