Bitcoin Price Falls to $79,500 as BlackRock Liquidates BTC and ETH

On Friday, February 27, 2025, the price of Bitcoin began the day by once again losing the significant support level of $80,000, with bears having controlled the market for over a week. Currently, BTC (at 03:01 UTC) is quoted near $79,500, experiencing a decline of almost 6% in a day and 21% in a month. The global market value of cryptocurrencies has decreased by 4.51% compared to the previous day.



At press time, the BTC price is now struggling to maintain the $80,800 support level, having dropped 4.4% in the past 24 hours.
Similarly, most of the major altcoins are also trending downward. ETH is approaching the $2,120 support level, currently trading at $2,143.49, down 8%. XRP is on the verge of losing the $2.00 support level and has fallen over 7%. Solana is attempting to hold the $120 level. ADA is struggling to maintain the $0.60 level and has declined over 7%.
Bitcoin’s Fear and Greed Index has reached a new alarming low, hitting a level of 10, its lowest since June 2022. This score reflects a state of extreme fear among investors, according to data from the Alternative.me platform.
This sharp drop in the index, from a neutral 49 a week ago to extreme fear today, could paradoxically signal a buying opportunity. “Extreme fear is often an indication that investors are overly worried, which can be a good opportunity to buy,” the source stated.
Despite this potential buy signal, the analyst community is divided. Some analysts are relying on historical data suggesting that moments of extreme fear often precede a price rally. Conversely, prominent market figures such as BitMEX co-founder Arthur Hayes predict that Bitcoin may still face declines, possibly reaching $70,000 before stabilizing.
Why did BlackRock sell cryptocurrencies?
Second
Arkman, BlackRock Just Sold Over $500 Million More in Cryptocurrencies.



Among the factors contributing to widespread fear in the market, geopolitical tensions stand out. US President Donald Trump recently announced the imposition of new tariffs on products from countries such as Canada, Mexico, and China, and also threatened a 25% tax on imports from the European Union, exacerbating uncertainty.
Additionally, the US spot Bitcoin ETF sector experienced record outflows, with approximately $938 million in withdrawals occurring in a single day, reflecting the lack of institutional trust that has fueled the recent selloff.