4 min readThe Bitcoin (BTC) crash is deepening as panic spreads across the crypto market. Strategy (formerly MicroStrategy), the world’s largest corporate Bitcoin holder, reported a record $12.4 billion net loss for Q4 2025, driven almost entirely by unrealised fair value declines on its 713,502 BTC position, now sitting well below the firm’s $76,052 average purchase price. The timing couldn’t have been worse: BTC/USD has now fallen over 50% from its October 2025 all-time high above $126,000. Once the $70,000 support level, a psychologically and technically significant zone, gave way, sellers took full control with price plunging straight to $60,000.
Weekly technical analysis
On the weekly chart, BTC/USD is printing a massive bearish candle, with nearly 40% wiped off in less than three weeks. When the $85,000 level broke, selling accelerated sharply, leading to an almost free fall straight down to the $60,000 region with just a minor pause at $70,000.
At the bottom of the chart, the RSI is currently printing below 30, the first time this has occurred since June 2022, which marked the beginning of the bear market bottom. This is also a significant level because the $60,000–$70,000 area represents a retest of the 2021 bull market highs, a zone that previously acted as major resistance before flipping to support during the current cycle. Worth noting is a bear cross between the weekly 20 and 50 EMA (marked as the white and blue lines on the chart), which is typically viewed as a bearish signal.
1-hour technical analysis
On the 1-hour chart, BTC/USD saw a strong move to the downside that tested the $60,000 support level. A pin bar-type candle has formed with a significant wick below, suggesting that notable buying pressure came in at that zone.
Since that low, a local bullish structure appears to be forming, with higher highs and higher lows on this timeframe. The RSI has recovered from extreme levels, briefly printing below 20, and is now trending higher. Below the RSI, the on-balance volume (OBV) indicator is showing potential patterns of accumulation. If the OBV can break above the horizontal resistance line marked on the chart, it could signal a possible reversal attempt, with the $70,000 resistance region above acting as the next major level to reclaim. Traders may be watching the London session closely for any shift in momentum.
Trading involves risk.
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