Bitcoin's 2-year trend is about to collapse: Will bulls defend $90K?

Bitcoin lost multiple critical support areas as data show short-term investors holding on to capitulation-level losses, raising fears of a deeper breakdown in BTC price.

Bitcoin (BTC) broke below its June support near $98,000 on Thursday, marking its first clear lower high–lower low structure on the daily chart since February. The decline deepened on Friday as BTC slid to $94,500, bringing it within striking distance of the $93,500 yearly open, a level that would fully erase its gains for 2025.

Key takeaways:

Bitcoin is at risk of its first weekly close below the 50-week SMA since 2023, breaking a two-year uptrend.

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