Bitcoin 
$82,864 continues its three-day downward trend, unable to surpass the critical resistance level of $99,000. The largest cryptocurrency has faced a wave of selling, leading to a decline to $95,600. These sharp market movements have increased uncertainty among traders. According to QCP Capital, the rise of BERA coin, listed on Binance, has attracted liquidity away from other altcoins, intensifying the overall selling pressure in the market.
Bitcoin Under Selling Pressure
Last night, Bitcoin sharply dropped after failing to break through the critical $99,000 level. This triggered a broader selling wave across the market. The largest cryptocurrency’s fall to $95,600 has strengthened the three-day declining streak. As of this report, Bitcoin is finding buyers at $97,331. While the current price levels may indicate a slight easing of the decline, it is still too early to declare that the danger has passed.
Analysts from QCP Capital noted significant movements in the markets following the listing of BERA coin on Binance. The altcoin quickly surged to $15.50 before stabilizing around $7.60 this morning. This rise has prompted investors to exit other altcoins, directing liquidity towards BERA, further intensifying the selling pressure in the cryptocurrency market, particularly among altcoins.
Regulatory Developments in the U.S. and Market Sentiments
Moreover, QCP Capital highlighted recent significant developments concerning cryptocurrency regulations in the U.S. President Trump’s initiatives to liberalize the sector continue. Recently, it has been claimed that the SEC intends to downsize its cryptocurrency oversight division. Analysts believe this move could foster the establishment of a new regulatory task force and promote more constructive relations with the sector.
Additionally, QCP Capital noted that the FDIC is reviewing U.S. banks’ policies on cryptocurrency transactions. This review could allow banks to offer certain cryptocurrency services without prior regulatory approval. Areas such as cryptocurrency custody services and tokenized deposits may see banks operating more freely.
Despite all these developments, analysts pointed out that the market remains cautious ahead of today’s U.S. non-farm payroll data. They highlighted that investors are interested in Bitcoin’s $80K and $90K put options for February 28 and February 21, respectively. According to QCP Capital analysts, this activity in the options market indicates that investors are still inclined toward risk aversion.
