The price of Bitcoin was faced with a deep correction of more than 6.5 %in the last two days. Bitcoin, which rises to 88,000 at the beginning of the week, is currently a significant tendency to decline.

Market decline and Bitcoin liquidity loss

According to TradingView data, the price of Bitcoin fell from 87,500 to 81,900 on March 28 to 81,900. This decline came with uncertainties about Trump’s trade tariffs and negative economic data.

In the United States, February Personal Consumption Expenditures (PCE) index came higher than expectations. Although monthly and annual PCE data is compatible with market expectations, core PCE data was 0.1 %above expectations.

In addition, the comprehensive US taxes (called the Day of Freedom), which will enter into force on April 2, increased concerns in the market.

According to Coings data, in the last 24 hours, a total of 338 million liquations have been experienced in crypto markets. In Bitcoin, over 165 million long positions were liquidated between 28-29 March.

Liquidity zones and short -term view

Data from Coings show that Bitcoin has a intense interest in the last six months for Bitcoin. This means that Bitcoin may regress to this range and then provide a sustainable recovery.

According to the analyst Stockmoney Lizards, Bitcoin can form a local bottom in the short term in the range of 82,000 to 80,000. However, over 88,000 short positions have liquidation levels. This may be a signal of a recovery that may occur next week.

Bear Flag Formation on Bitcoin graph and possible decline to 62,000 levels

From a technical point of view, Bitcoin’s price decrease on March 29 is part of a dominant bear flag formation. This formation indicates that sales pressure in the market will continue.

The significant support levels of 85,800 and 200 -day simple moving average (SMA) show that the bear flag is broken and more losses may be experienced.

The measured movement target of this formation points to a decrease of up to 62,000 levels. In summary, it means a 25 %decrease in existing levels.

Analysts’ Opinions

• Mn Capital founder Michael Van de Poppe says the trend is downward and the 76,600 level is highly likely to re -test.

• Capital Flows predicts that if liquidity conditions do not change, Bitcoin may fall up to 72,000-75,000 range.

• Experienced Trader Peter Brandt thinks that Bitcoin will move towards 65,635 levels after the verification of the bear kamasi formation.

Bitcoin is looking for a powerful recovery signal to break the current decline tendency and rise to higher levels. However, the technical indicators and the general uncertainties in the market show that the price of further fall is high.