Bitcoin Suffers Its Worst Crash of the Year
The crypto market was thrown into chaos late Friday as Bitcoin ($BTC) crashed from above $120,000 to a low near $111,000, wiping out billions in market value within hours. The sudden drop marks the steepest one-day decline of 2025, with BTC falling over 7% in 24 hours and triggering a wider sell-off across all major altcoins.
The catalyst? It's President Trump.
This shock announcement rattled global markets, sending investors fleeing from risk assets — including crypto — in a classic risk-off move.
Chart Analysis: Freefall from Key Support
As shown in the below chart, BTCUSD collapsed below multiple key levels in a single candle:
- Lost support at $118,600, turning it into resistance.
- Fell through the 50-day SMA (~$114,500), signaling a sharp momentum shift.
- Briefly touched $111,350, just above a crucial support cluster near $110,000 — the last defense be...
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