Bitcoin (BTC) Dips Below $85,000 Today as Easter Celebrations Dampen Market Activity

As of Sunday, April 20, 2025, at 11:00 AM ET, Bitcoin (BTC) is trading at approximately $84,612, reflecting a modest decline of about 0.9%

Bitcoin (BTC) price dropped by about 0.9% over the past 24 hours to trade at approximately $84,612 as of Sunday, April 20, at 11:00 AM ET. Today is Easter as celebrated by Orthodox Christian over the world, which is likely keeping volumes lower as Bitcoin price dips.

Several macroeconomic and technical factors seem to be impacting the cryptocurrency market. The recent escalations in global trade tensions, particularly between the U.S. and China, have led to increased market volatility and investors exhibiting risk-off behavior.

This is also seen in the recent increase in gold prices as investors are moving away from volatile assets like cryptocurrencies towards traditional safe havens like gold.

The Crypto Fear & Greed Index is now in the "extreme fear" territory with a score of 25.

Relative Strength Index (RSI) fell to 30, indicating oversold conditions for BTC. The MACD indicator also crossed into bearish territory, which might signal further declines.

In the futures market, there was a decrease in the total open interest, which measures the number of outstanding derivative contracts, for both BTC and ETH futures. This reduction in speculative activity can lead to decreased liquidity and increased price volatility.

Following Bitcoin’s most recent halving event, which occurred in March, the market is undergoing a period of adjustment.

Periods post-halving are usually characterized by increased volatility as miners and investors recalibrate their strategies in response to reduced block rewards.

Earlier this year, Bitcoin experienced a significant rally, reaching an all-time high of over $100,000. However, after such a rally, some investors tend to take profits, leading to selling pressure that contributes to the current price decline.

It’s also important to note that the market is undergoing a natural correction after the cryptocurrency’s price surged to nearly $107,000 in November 2024.