tl;dr
Renowned Bitcoin analysts predict a potential crash in BTC price to $60,000 in the near future, citing stalled momentum and fragile gains. Concerns about lack of support and supply shock have raised apprehensions, with some forecasting a drop to $70,000. Key support area lies between $97,000 and $93...
Renowned Bitcoin analysts predict a potential crash in BTC price to $60,000 in the near future, citing stalled momentum and fragile gains. Concerns about lack of support and supply shock have raised apprehensions, with some forecasting a drop to $70,000. Key support area lies between $97,000 and $93,800, and recent trends indicate growing nervousness in the Bitcoin community. Despite bullish long-term forecasts, there are warnings of a downturn to $60,000 before a significant rise.
According to several high-profile Bitcoin analysts, the price of BTC may crash to $60,000 in the coming months. Bitcoin’s momentum has stalled recently, and its recent major gains may prove fragile. Several analysts predicted a bullish 2025 for Bitcoin but still claimed that its price would first hit a sharp decline in the short term before a future bullish cycle materialized.
These Bitcoin price predictions were compiled by Ali Martinez, a prominent analyst in the space. Bitcoin’s forward price momentum has sharply declined recently, prompting concerns that the $110,000 goal by New Year’s Eve is becoming unrealistic. Meanwhile, some leading analysts think that the lack of support at different price points and the existing supply shock can cause BTC to drop even further.
For the past week, Bitcoin’s price has been in a “key support area” between $97,000 and $93,800. If the asset’s value drops below this range, we could see a sharp drop to $70,000, as there is minimal support below it. Unfortunately, BTC’s price is currently hanging at the bottom end of this range.
He also noted several trends that clearly reflect a growing nervousness in the Bitcoin community. For example, investors sent more than $3 billion in BTC to exchanges in the last week, as Bitcoin whales have limited their exposure. The ETFs, normally a source of immense returns, have also witnessed outflows exceeding $1 billion. Even bullish predictions for the future still contain a hint of pessimism.
Ultimately, however, major asset managers continue to make unambiguously bullish predictions for Bitcoin price movements. For example, Bitwise claimed earlier this month that BTC could reach $200,000 in 2025, with consistent growth. Pantera Capital even made the bold statement it would go to $740,000 by 2028.