The price of bitcoin (BTC) has fallen by 3% to $86,400 in the past 24 hours. The decline followed a large-scale sell-off yesterday afternoon, after which the market began to consolidate. Analysts are now focusing on a series of technical support levels that could determine the future price movement.
In Brief #
- Bitcoin fell 3% to $86,400 after a major sell-off.
- The market trend is downward, according to analysts, with attention on important support levels.
- If the current support breaks, a drop to $83,000 or $80,000 is possible.
Sell-off Pushes Price Below $89,000 #
The drop occurred yesterday around 15:30, with the bitcoin price falling from about $89,000 to $85,000 in a short time due to significant selling pressure. During the night and this morning, the price has stabilized. Currently, the market is in a consolidation phase: a period of relative calm where the price moves sideways. However, analysts note that the overall trend remains downward.
Analysis: Downtrend and Important Week Ahead #
Market analyst Nic Puckrin states that the decline confirms a ‘bearish pennant,’ a technical pattern that may indicate a continuation of the downtrend. He points to the 100-week Moving Average (MA) as the first important support. This level has held for the past three weeks. Analyst Michaël van de Poppe also emphasizes that the trend is downward, adding that this is a ‘big macroeconomic week’ that could lead to the next significant price movement.
BTC broke down again confirming the bearish pennant. Next potential support is the 100w MA, which has been quite strong over the past 3 weeks. If we break that, there are key onchain levels such as $83.8k (ETF cost basis) and below that $81.2k (true market mean). Safe to say… — Nic (@nicrypto) December 16, 2025
#Bitcoin consolidates here, and is undecided. Trend remains to be down, and in order to adjust the trend, a breakout above $88K is required. Could be happening in the coming days, again, big macroeconomic week. If not, then I think that $83K liquidity sweep and the $80K… — Michaël van de Poppe (@CryptoMichNL) December 16, 2025
Crucial Support Levels for Bitcoin #
If the support of the 100-week MA breaks, there are lower support levels according to Puckrin. He mentions $83,800 (the average purchase price of ETFs) and $81,200 (the ’true market average’). If these levels also fail to hold, a drop below $80,000 is a real possibility. Van de Poppe outlines a similar scenario. If an upward breakout does not occur, he foresees a possible drop to $83,000 to test liquidity, followed by a ‘double bottom test’ around $80,000. A price recovery is possible, according to Van de Poppe, but requires a breakout above $88,000 to break the current downtrend.