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Author: Admin | 2025-04-28
Published: Feb 25, 2025, 11:30 GMT+00:00Key Points:Wave 4 correction confirmed with BTC breaking critical support.Fibonacci 0.382 level in focus at around $85,848.RSI oversold signals potential relief after steep drop.In this article:Bitcoin-6.43%Bitcoin (BTC) has experienced a sharp decline, confirming a Wave 4 correction in its ongoing Elliott Wave cycle. Recent price action suggests BTC has broken below key support levels, invalidating previous bullish structures and pointing toward deeper retracements. This decline comes amid broader market uncertainty, with BTC dropping below $90,000, approaching significant Fibonacci support. The daily chart highlights a key inflection point where Bitcoin may either find support for a Wave 5 rally or extend further downward.Strategy’s $2 Billion Bitcoin AcquisitionStrategy, formerly known as MicroStrategy, has expanded its Bitcoin holdings by purchasing an additional 20,356 BTC for $1.99 billion, averaging $97,514 per coin. This acquisition follows a $2 billion senior convertible note offering, part of the company’s “21/21 Plan” to raise $42 billion over three years for Bitcoin investments. With this purchase, Strategy’s total Bitcoin reserves approach 500,000 BTC, acquired at an aggregate cost of $33.1 billion, averaging $66,357 per Bitcoin. Despite a $670 million net loss in Q4 2024, the company maintains an unrealized profit of over $14.8 billion on its Bitcoin holdings. Institutional interest in Strategy has grown, with BlackRock increasing its stake to 5% and twelve U.S. states holding shares in their pension funds or treasuries.BTC Price Analysis Bitcoin’s daily chart confirms a strong Wave 4 correction after the previous Wave 3 rally peaked above the $108,000 area. The decline has breached the key horizontal support around $92,000 below the 0.236 Fibonacci retracement, with BTC currently testing deeper Fibonacci retracement levels.BTC/USD dailyThe Elliott Wave count suggests that BTC has completed its Wave 3 impulse and entered a corrective phase marked by an A-B-C structure. Wave A saw
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