Bitcoin Plunges to 120-Day Low

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BTC price decline

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Bitcoin price dropping

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Technology

Bitcoin Price Analysis: NVIDIA exposes BTC to $80K breakdown risk as ETFs bleed $2.1B in 6 days

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Bitcoin (BTC) price plunged to a new 120-day low of $ 82,250 on Wednesday Feb 28 as US tech stocks sell-off spread bearish headwinds across the crypto sector.

Bitcoin has now lost over 20% in February , marking its worst monthly performance since FTX collapse in November 2022 .

NVIDIA ’s record-breaking earnings fueled a $500 billion market cap surge, further pressuring BTC.

Bitcoin ETFs have recorded outflows for six straight trading sessions, wiping out $2.1 billion from the market.

If Bitcoin closes a daily candle above $86,736 , bulls may regain control and push prices toward $ 90,000 .

Failure to hold above $84,000 could accelerate losses, exposing BTC to a steeper drop below $80,000 in the coming sessions.

Despite the bearish breakdown, a potential short-term bounce remains possible.

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