Bitcoin falls to $45K in sequel to 20% BTC price crash
A failed rebound above $50,000 looks to flip the level back to resistance as $47,000 becomes a new price focus. Bitcoin (BTC) extended its losses on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week.
Fresh dive takes BTC/USD to 8-day lows
Data from Cointelegraph Markets and TradingView painted a gloomy picture for bulls on Tuesday as BTC/USD hit lows of $45,000 on Bitstamp. The losses reverse a rebound that halted Monday's 20% price crash from all-time highs near $58,000. Bitcoin bounced at $47,400 on the day to return to $54,000 before a fresh dip took hold.
At the time of writing, $47,000 was again acting as some form of focus for support, with the trajectory still unclear amid heavy volatility. Analysis of buy and sell positions produced little hope for stemming losses should that level fail, with support lacking below $46,500.
$50,000 set to become resistance again
For analysts, however, even the prospect of a more serious retracement was nothing to fear. Compared to previous price dips, the current one was a drop in the ocean.
"We’ve experienced 2018 & 2019. This is nothing," Cointelegraph Markets analyst Michaël van de Poppe summarized to Twitter followers. "Approaching bounce region for Bitcoin. I think we're close now," a further tweet added.
In an accompanying YouTube update, he forecast that should bears take hold, Bitcoin could be in for what is classic behavior for the month of March, which traditionally sees corrections.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 59.2% | 84 | $29 906.45 | 1.19% | -0.93% | $569 615 124 749 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 59.2% | 88 | $2 006.73 | 1.31% | -3.60% | $242 575 430 000 |  |
|
| 3 |  USDT |
Tether predictions | 94% | 1 | $0.998861 | 0.02% | 0% | $73 191 653 422 |  |
|
| 4 |  USDC |
USD Coin predictions | 95.2% | 1 | $1.000391 | 0.01% | 0% | $53 095 646 398 |  |
|
| 5 |  BNB |
Binance Coin predictions | 56% | 88 | $316.79 | 1.33% | 4.98% | $51 725 100 830 |  |
|
| 6 |  XRP |
XRP predictions | 57.6% | 89 | $0.417070 | 0.10% | -2.43% | $20 162 437 867 |  |
|
| 7 |  BUSD |
Binance USD predictions | 94.8% | 1 | $0.999756 | -0.07% | -0.22% | $18 513 212 786 |  |
|
| 8 |  ADA |
Cardano predictions | 56% | 91 | $0.535071 | 0.10% | -4.15% | $18 052 780 745 |  |
|
| 9 |  SOL |
Solana predictions | 60.8% | 88 | $51.57 | 2.05% | -5.27% | $17 496 824 554 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 58% | 92 | $0.085116 | 0.07% | -5.10% | $11 292 451 422 |  |
|
| 11 |  DOT |
Polkadot predictions | 58.4% | 87 | $10.08 | 0.86% | -9.13% | $9 955 703 739 |  |
|
| 12 |  AVAX |
Avalanche predictions | 58.8% | 90 | $31.39 | 4.58% | -10.83% | $8 448 611 482 |  |
|
| 13 |  WBTC |
Wrapped Bitcoin predictions | 63.2% | 84 | $29 892.78 | 1.26% | -0.99% | $8 268 429 569 |  |
|
| 14 |  TRX |
TRON predictions | 72.8% | 53 | $0.076139 | 2.55% | 10.86% | $7 366 589 571 |  |
|
| 15 |  DAI |
Dai predictions | 96% | 1 | $1.000541 | -0.05% | 0.02% | $6 532 230 569 |  |
