Bitcoin Struggles Below $96K Support, Wiping Out 2025 Progress Amid Strong Bearish Sentiment

Hey there, crypto enthusiasts! It's been a rollercoaster ride for Bitcoin lately, with the price plunging below the crucial $96,000 support level and erasing gains made in 2025. If you've been following the market closely, you know that extreme bearish sentiment is currently dominating the scene.

The Current Landscape

Support and Resistance Dynamics

As Bitcoin slipped below the $96,000 support line, hopes of a quick recovery dwindled. The next critical support lies at the 0.382 Fibonacci Retracement level, with another significant zone between $83,000 and $84,000. Looking further down, we might revisit the highs of the 2024 consolidation range.

Challenges in Breaking Resistance

Recovering from the recent dip faces challenges, with strong resistance hovering above $94,000. Any potential bounce might struggle to surpass the $98,000 mark, facing a formidable obstacle at $106,000 to $109,000. Bulls eyeing $116,000 need to break through a final barrier – a tough nut to crack for the current market sentiment.

Forecast for the Week

Market Sentiment

Feeling pessimistic? You're not alone. The market is shrouded in extreme bearishness, with Bitcoin's value plummeting over 25% from October's peaks. The road to a meaningful rally seems bumpy, especially after losing crucial support thresholds.

Transitioning to a brighter outlook, let's consider the 4-year Bitcoin cycle theory. While the recent highs might signal the end of an era, hopes for a sustained rally this year are dim. The horizon looks challenging, with resistance levels casting a shadow over any potential breakthroughs.

Cracking the Code: Terminology Unveiled

Bulls/Bullish: The optimistic bunch, anticipating price surges.
Bears/Bearish: The naysayers, predicting price downturns.
Support: A price level expected to prop up the asset's value initially.
Resistance: The level likely to cap price movements, at least temporarily.
Fibonacci Retracements and Extensions: Ratios mirroring natural growth and decay cycles.
Volume Profile: An indicator showcasing total buy and sell volumes at specific prices.
Broadening Wedge: A chart pattern signaling expanding price volatility.

Whether you're a seasoned investor or a curious newcomer, understanding these market dynamics can shed light on Bitcoin's tumultuous journey. Stay informed, stay cautious, and remember – the crypto world is as unpredictable as a wild rollercoaster ride!

Frequently Asked Questions

What is the cost of gold IRA fees

An Individual Retirement Account (IRA) fee is $6 per month. This fee includes account maintenance fees as well as any investment costs related to your selected investments.

Diversifying your portfolio may require you to pay additional fees. These fees will vary depending upon the type of IRA chosen. Some companies offer checking accounts for free, while others charge monthly fees for IRA account.

A majority of providers also charge annual administration fees. These fees are usually between 0% and 1%. The average rate per year is.25%. These rates can be waived if the broker is TD Ameritrade.

How much should your IRA include precious metals

When investing in precious metals, the most important thing to know is that they aren't just for wealthy people. You don't need to be rich to make an investment in precious metals. There are many ways to make money on silver and gold investments without spending too much.

You may consider buying physical coins such as bullion bars or rounds. You could also buy shares in companies that produce precious metals. Or, you might want to take advantage of an IRA rollover program offered by your retirement plan provider.

You'll still get the benefit of precious metals no matter which country you live in. These metals are not stocks, but they can still provide long-term growth.

They also tend to appreciate over time, unlike traditional investments. This means that if you decide on selling your investment later, you'll likely get more profit than you would with traditional investing.

Who holds the gold in a gold IRA?

The IRS considers gold owned by an individual to be “a type of money” and is subject taxation.

You must have gold at least $10,000 and it must be stored for at the least five years in order to take advantage of this tax-free status.

The purchase of gold can protect you from inflation and price volatility. But it's not smart to hold it if your only intention is to use it.

If you are planning to sell your gold someday, it is necessary that you report its value. This can affect the capital gains taxes that you owe when cashing in on investments.

It is a good idea to consult an accountant or financial planner to learn more about your options.

How is gold taxed by Roth IRA?

An investment account's tax rate is determined based upon its current value, rather than what you originally paid. Any gains made by you after investing $1,000 in a stock or mutual fund are subject to tax.

But if you put the money into a traditional IRA or 401(k), there's no tax when you withdraw the money. Dividends and capital gains are exempt from tax. Capital gains only apply to investments more than one years old.

These rules vary from one state to another. For example, in Maryland, you must take withdrawals within 60 days after reaching age 59 1/2 . Massachusetts allows you to delay withdrawals until April 1. And in New York, you have until age 70 1/2 . To avoid penalties, you should plan ahead and take distributions as soon as possible.

Is physical gold allowed in an IRA.

Gold is money and not just paper currency. It is an asset that people have used over thousands of years as money, and a way to protect wealth from inflation and economic uncertainties. Today, investors use gold as part of a diversified portfolio because gold tends to do better during financial turmoil.

Many Americans now invest in precious metals. Although owning gold does not guarantee that you will make money investing in it, there are many reasons to consider adding gold into your retirement portfolio.

Another reason is that gold has historically outperformed other assets in financial panic periods. Between August 2011 and early 2013 gold prices soared nearly 100 percent, while the S&P 500 plunged 21 percent. During turbulent market conditions gold was one of few assets that outperformed stock prices.

One of the best things about investing in gold is its virtually zero counterparty risk. If your stock portfolio goes down, you still own your shares. You can still own your gold even if the company where you invested fails to pay its debt.

Finally, gold offers liquidity. This means you can easily sell your gold any time, unlike other investments. It makes sense to buy small quantities of gold, as it is more liquid than other investments. This allows one to take advantage short-term fluctuations within the gold price.

Statistics

(Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
The price of gold jumped 131 percent from late 2007 to September 2011, when it hit a high of $1,921 an ounce, according to the World Gold Council. (aarp.org)
You can only purchase gold bars at least 99.5% purity. (forbes.com)
This is a 15% margin that has shown no stable direction of growth but fluctuates seemingly at random. (smartasset.com)
Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)