Bitcoin Price Drops to $83,000; Could Rebound be Next?

### **Bitcoin Dips 9.88% to $83,800 Amid Market Volatility**

Bitcoin (BTC) is trading at approximately $83,800, down 9.88% from the previous close, with an intraday high of $93,666 and a low of $82,521. The market remains volatile following President Donald Trump’s announcement of a U.S. Crypto Strategic Reserve, initially driving BTC near $95,000 before a sharp reversal.

### **Technical Analysis & Market Outlook**

Bitcoin’s price chart reveals a bearish double-top pattern, suggesting potential further declines. Key support levels are at $80,400 and $74,000, with resistance at $98,500 and $106,000. The RSI indicates oversold conditions, hinting at a possible rebound, while MACD remains bearish.

The broader crypto market is also facing turbulence, with Ethereum, XRP, and Solana experiencing significant drops. External economic factors, including U.S. tariff policies, add to market uncertainty. Analysts remain divided on Bitcoin’s trajectory, with long-term optimism tempered by short-term caution.