Sun Mar 02 18:10:00 UTC 2025: ## Bitcoin Price Dips 17.5% Amidst Global Market Uncertainty
**Sydney, Australia** – Bitcoin (BTC) experienced a significant 17.5% drop against the US dollar last week, influenced by global market anxieties stemming from trade tariffs and a security breach at the Bybit cryptocurrency exchange. According to FP Markets Market Analyst Aaron Hill, the decline pushed BTC to near the 200-day simple moving average (SMA) at US$76,811.
While a dragonfly doji candlestick pattern and nearby support levels around US$73,575 suggest a potential short-term recovery, Hill cautions that the monthly chart indicates further downward pressure. He points to the possibility of BTC reaching support at US$68,926.
The analyst notes that a retest of the lower range of the daily chart before reaching key support levels could signal a “sell-on-rally” scenario. This means any price rebound might be met with further selling pressure. Hill emphasizes that this analysis is for general information only and investors should seek independent financial advice.
First Piper 