-
Back to menu
Prices
-
Back to menu
-
Back to menu
Indices -
Back to menu
Research
-
Back to menu
Events -
Back to menu
Sponsored
-
Back to menu
Videos -
Back to menu
-
Back to menu
-
Back to menu
Webinars
Select Language
By Omkar Godbole, AI Boost|Edited by Parikshit Mishra
Aug 26, 2025, 7:51 a.m.
- Bitcoin’s price has fallen below the 100-day simple moving average for the first time since April, boltering the bearish outlook.
- The cryptocurrency’s technical outlook has worsened, with prices also dropping below the Ichimoku cloud.
- Ether, solana, and XRP maintain relatively stronger positions.
This is a daily analysis by CoinDesk analyst and Chartered Market Technician Omkar Godbole.
Bitcoin’s (BTC) technical outlook has deteriorated over the past 24 hours, with prices dropping below a key moving average for the first time since April. This breakdown has left BTC at a disadvantage compared to major tokens such as Ether (ETH), XRP, and Solana SOL$188.94.
STORY CONTINUES BELOW
BTC has dropped over 1% in the past 24 hours, hitting a low of $109,172 at one point.
In the process, the cryptocurrency has convincingly dipped below the 100-day simple moving average (SMA), a widely tracked momentum indicator and support/resistance line, for the first time since April 22.
Further, prices have crossed below the Ichimoku cloud, indicating a bearish shift in momentum.
The dual breakdown has bolstered the bearish technical outlook suggested by the recent violation of the upward-sloping trendline from the April lows and the consecutive negative prints on the longer-duration MACD histogram. Taken together, the recent pattern looks similar to the February breakdown that set the stage for a deeper sell-off to $75K.
The next key level to watch out for is $105,390, which is the 38.2% Fibonacci retracement of the April-July rally, followed by the 200-day SMA at $100,928.
The bulls need to overcome the lower high of $117,416 created on Aug. 22 to negate the bearish technical setup.
- Resistance: $111,592, $117,416, $120,000
- Support: $105,390, $100,928, $100,000.
While bitcoin has suffered the dual breakdown, XRP continues to trade above its 100-day SMA. However, prices are “stuck in the Ichimoku cloud,” whichmeans the token is trading within a zone of uncertainty and consolidation where neither bulls nor bears are willing to lead the price action. It suggests indecision and lack of a strong trend.
Meanwhile, ether and SOL continue to trade above their respective 100-day SMAs and Ichimoku clouds. Therefore, a potential risk-on could see both ETH and SOL outperform BTC and XRP.
Read more: Massive $14.6B Bitcoin and Ether Options Expiry Shows Bias for Bitcoin Protection
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Omkar Godbole is a Co-Managing Editor and analyst on CoinDesk’s Markets team. He has been covering crypto options and futures, as well as macro and cross-asset activity, since 2019, leveraging his prior experience in directional and non-directional derivative strategies at brokerage firms. His extensive background also encompasses the FX markets, having served as a fundamental analyst at currency and commodities desks for Mumbai-based brokerages and FXStreet. Omkar holds small amounts of bitcoin, ether, BitTorrent, tron and dot.
Omkar holds a Master’s degree in Finance and a Chartered Market Technician (CMT) designation.
“AI Boost” indicates a generative text tool, typically an AI chatbot, contributed to the article. In each and every case, the article was edited, fact-checked and published by a human. Read more about CoinDesk’s AI Policy.
More For You
By Omkar Godbole, AI Boost|Edited by Parikshit Mishra
2 hours ago
The impending expiry shows a strong demand for bitcoin put options, indicating a preference for downside protection,
What to know:
- Bitcoin and ether options worth over $14.6 billion are set to expire Friday, marking a significant event in the derivatives market.
- The expiry shows a strong demand for bitcoin put options, indicating a preference for downside protection, while ether options are more balanced.
- The options market has grown significantly since 2020, with max pain levels for bitcoin and ether at $116,000 and $3,800, respectively, being key focal points.
