BTCUSD Today: February 02 Slide to 2025-Low Zone Tests $75K Support
The bitcoin price slid below US$80,000 today, probing the mid‑US$70,000s as traders tested support near US$75,000. At last check, BTC traded around US$78,648.0, down 6.94%, after an intraday low of US$75,644.15. This puts the move near the 2025‑low zone and heightens short‑term risk. For Singapore investors, liquidity and slippage matter during sharp moves. We break down drivers, key levels, and how the BTCUSD price action may shape the next sessions in Asia.
What Drove Today’s Drop and Why It Matters
A sharp turn in sentiment followed bitcoin’s break below US$80,000, which Bloomberg called a “crisis of confidence” as liquidity thinned and stops triggered source. Barron’s also tied the slide to speculation around a Kevin Warsh Fed appointment, adding policy uncertainty to the mix source. In such tapes, spreads can widen and funding can swing, raising execution risk for retail orders.
Spot tested US$75,644.15 with the year low at US$74,420.69. Immediate resistance sits at US$80,000, then US$84,138. The 50‑day average is US$89,813.6006 and the 200‑day is US$104,526.0834, keeping the broader trend below major MAs. Holding the mid‑US$70,000s stabilizes the tape. A clean break risks a run at the prior low and potential round‑number magnets near US$72,000.
Technical Picture: Momentum, Trend, and Volatility
RSI at 48.91 is neutral, while ADX at 25.89 signals a firm trend. MACD is −245.82 versus a signal of −967.46, with a positive histogram of 721.64, hinting at slowing downside momentum. The MA envelope slope at −0.03 still leans lower. Taken together, the trend is down, but momentum loss can fuel short, fast bounces if key supports hold.
ATR at 3,252.65 highlights wide daily swings. Price cut through Bollinger and Keltner lower bands (US$84,208.69 and US$83,600.01), showing pressure beyond typical ranges. Volume at 1,167,439,207 versus a 657,956,204 average suggests forced unwinds. These conditions often trigger sharp mean‑reversion rallies, but failed bounces can extend the crypto selloff toward the 2025 lows.
Singapore Investor Angle: Positioning and Risk
We see wider spreads and funding shifts during stress. Singapore platforms quote in SGD even when bitcoin settles against USD liquidity. Keep orders clean and size thoughtfully to reduce slippage. IRAS treats frequent trading gains as income, while long‑term investment gains may be non‑taxable. Always check current rules and avoid high leverage when ATR expands.
If US$75,000 holds, a rebound toward US$80,000 and US$84,000 is possible as shorts cover. A break of US$74,420.69 opens room to US$72,000. Our indicative projections show a one‑month level at US$92,791.0 and a one‑year level at US$95,894.00. Treat these as guideposts, not guarantees. The BTCUSD price path will hinge on policy headlines and liquidity.
Final Thoughts
The bitcoin price is testing a critical zone near the mid‑US$70,000s after breaking US$80,000. Volume is elevated, bands are stretched, and momentum looks heavy but less one‑way than earlier in the week. For Singapore traders, execution quality and risk control matter most when spreads and funding swing. Focus on the US$75,000 shelf and the year low at US$74,420.69 for direction. Respect volatility with smaller position sizes and clear stop levels. If US$75,000 holds, watch US$80,000 and US$84,000 for early strength. If it fails, prepare for another leg lower toward the prior low and round numbers. Stay flexible, track policy news, and let levels guide entries.
FAQs
What key levels should I watch on BTCUSD today?
US$75,000 is the key shelf. A break puts the year low at US$74,420.69 in play, then the US$72,000 area. On the upside, US$80,000 is the first hurdle, followed by US$84,138. The 50‑day average at US$89,813.6006 marks a bigger trend test.
Why did the crypto selloff accelerate below US$80,000?
Stops tend to cluster near round numbers. The break under US$80,000 triggered forced selling as liquidity thinned. Headlines around Kevin Warsh Fed speculation and shaky risk sentiment added pressure. With ATR elevated, moves can snowball when spreads widen and funding shifts.
How should Singapore investors adjust execution during high volatility?
Use limit orders, avoid chasing large candles, and size positions smaller. Watch spreads and funding rates across venues. Set clear stops, and do not over‑leverage when ATR is high. If you trade actively, consider fees and slippage, and review IRAS guidance for potential income tax treatment.
Do indicators suggest a bounce or more downside now?
RSI at 48.91 is neutral, and MACD’s positive histogram shows fading downside momentum. But price remains below the 50‑day and 200‑day averages, so the trend is still down. Holding US$75,000 could spark a bounce toward US$80,000, while a break risks a test of US$74,420.69.
Disclaimer:
The content shared by Meyka AI PTY LTD is solely for research and informational purposes. Meyka is not a financial advisory service, and the information provided should not be considered investment or trading advice.
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