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 | 62.4% | 82 | $63 365.57 | -1.97% | 6.45% | $1 194 493 310 958 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 71.6% | 59 | $4 124.43 | -1.79% | 9.07% | $486 803 148 738 |  |
|
| 3 |  BNB |
Binance Coin predictions | 69.2% | 64 | $491.77 | 1.14% | 6.53% | $82 027 720 087 |  |
|
| 4 |  ADA |
Cardano predictions | 88.4% | 12 | $2.19 | -1.25% | 1.22% | $72 004 147 290 |  |
|
| 5 |  USDT |
Tether predictions | 94.8% | 1 | $1.000207 | 0.03% | -0.02% | $69 627 517 914 |  |
|
| 6 |  SOL |
Solana predictions | 71.2% | 54 | $204.52 | 9.96% | 29.69% | $61 524 252 950 |  |
|
| 7 |  XRP |
XRP predictions | 71.2% | 50 | $1.10 | -2.42% | -1.36% | $51 788 239 987 |  |
|
| 8 |  DOT |
Polkadot predictions | 65.6% | 76 | $46.10 | 6.03% | 15.62% | $45 528 763 922 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 74% | 57 | $0.247098 | -1.08% | 8.28% | $32 567 634 508 |  |
|
| 10 |  USDC |
USD Coin predictions | 90.8% | 1 | $1.000150 | 0.04% | -0.03% | $32 399 349 700 |  |
|
| 11 |  LUNA |
Terra predictions | 69.6% | 63 | $44.59 | 9.19% | 20.56% | $17 908 201 379 |  |
|
| 12 |  UNI |
UniSwap predictions | 72% | 56 | $26.72 | -0.17% | 3.61% | $16 344 258 475 |  |
|
| 13 |  AVAX |
Avalanche predictions | 67.6% | 64 | $64.96 | 5.89% | 17.34% | $14 309 797 078 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 63.2% | 82 | $63 395.16 | -2.01% | 6.49% | $14 016 228 919 |  |
|
| 15 |  LTC |
Litecoin predictions | 68.8% | 56 | $198.79 | -2.79% | 10.12% | $13 677 185 173 |  |
