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The post <a href="https://coinpedia.org/price-analysis/bitcoin-price-crash-challenges-100k-dream-before-halving/" rel="noopener noreferrer nofollow">Bitcoin Price Crash Challenges $100K Dream Before Halving</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a>
The price of a single Bitcoin falls by 6% this Tuesday, leading to an overall drop of 8% this week. The sellers gain control over the short-term BTC price trend amidst the market-wide sell-off spree, powering a crash in altcoins.&nbsp;
As the supply wave recedes a bit as it tests the $65K mark, the BTC price takes a short relief, putting an intraday growth of 1%. However, the larger picture speaks of a bullish entry despite the correction due to a price pattern.&nbsp;
Further, with the US Bitcoin Spot ETFs hitting a daily net inflow of $40 million this Tuesday, the recovery chances are getting stronger. But will the bulls survive the fall and hit the <a href="https://coinpedia.org/price-prediction/bitcoin-price-prediction/" rel="noopener noreferrer nofollow">Bitcoin price prediction</a> of $100,000 before the halving?
<h2 class="wp-block-heading" id="h-bitcoin-price-performance">Bitcoin Price Performance</h2>
With a 6% rise last week, the BTC price trend has lost the recovery momentum this week. Bitcoin is trading at a discount of 8% at $66,120 and has recently tested the crucial support of $65,000.&nbsp;
<figure class="wp-block-image size-large"><img decoding="async" width="1024" height="509" src="https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63-1024x509.png" alt="" class="wp-image-286433" srcset="https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63-1024x509.png 1024w, https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63-300x149.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63-768x382.png 768w, https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63-1536x764.png 1536w, https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63-150x75.png 150w, https://image.coinpedia.org/wp-content/uploads/2024/04/03113420/image-63.png 1600w" sizes="(max-width: 1024px) 100vw, 1024px">
</figure>
<a href="https://www.tradingview.com/x/QdTT9B4x/" rel="noopener noreferrer nofollow">Tradingview</a>
With two consecutive bearish candles, the daily chart of Bitcoin showcases a negative cycle at play. The downfall is inching closer to the dynamic support of the 50-day EMA as it rests at the 23.60% Fib level.&nbsp;
The 6% drop this Tuesday leads to a $357 million long-liquidation and sets a strong bearish tone in the short term, per <a href="https://www.coinglass.com/LiquidationData" rel="noopener noreferrer nofollow">Coinglass</a>.&nbsp;&nbsp;
<h2 class="wp-block-heading" id="h-chances-of-btc-price-hitting-100k-this-month">Chances Of BTC Price Hitting $100K This Month</h2>
As per the BTC price action, the long-term trend showcases a bearish channel consolidation. However, Bitcoin forms a bullish flag pattern with the prevailing bull run, teasing a trend continuation.&nbsp;
Further, with the resurfacing daily net inflows and the upcoming Bitcoin halving, the price of a single BTC could exceed $75,000. However, the market value reaching the $100,000 mark seems like a post-halving target under present market conditions.&nbsp;
On the flip side, a correction under the 50D EMA could test the 38.20% Fibonacci level at $60,289.&nbsp;

Bitcoin Price Crash Challenges $100K Dream Before Halving

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