Bitfarms Falls 30% in a Week After $588M Fundraising: Is $4 the New Support Level?

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: benzinga_crypto

Updated: Oct 22 2025

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Convertible Notes Offering: Bitfarms Ltd. completed a $588 million convertible notes offering, marking its entry into the convertible bond market, which will support its HPC/AI infrastructure developments in North America.
Financial Position: Following the offering, Bitfarms' total liquidity exceeds $1 billion, including cash and Bitcoin holdings, allowing for further data-center and hashrate expansion.
Market Dynamics: The company aims to diversify its revenue amid challenging Bitcoin mining economics, although increased network hashrate may lead to rising difficulty and lower profitability.
Price Support Levels: Bitfarms' stock price is currently supported around the $4.00–$4.20 range, with key resistance at $4.72; failure to maintain this level could lead to deeper support around $2.33.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 3 technical signals, shows that 0 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	59088.461	62103.23	64953.461	67968.23	70818.461	73833.23	76683.461
Fibonacci	62103.23	64343.66	65727.8	67968.23	70208.66	71592.8	73833.23

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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