Bitcoin’s price is down 8.5% in 24 hours, and breaching the 200-day SMA puts the BTC price at risk of a deeper correction.
Bitcoin (BTC) price has declined by more than 8.5% over the last 24 hours days after rallying to $95,000 on Sunday, March 2.
Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin suddenly dropped from a high of $94,422 on March 3 to an intra-day low of $82,450 on March 4.
BTC/USD daily chart. Source: TradingView
