Bear Market Incoming: Why Bitcoin’s 14% Drop Could Be Just the Beginning?
Even though cryptocurrency investors are worried that a bear market cycle may arrive sooner than expected, Bitcoin’s possible fall below $70,000 could be a natural element of the present bull market. Over the past week, Bitcoin has dropped more than 14%, finishing at about $80,708. President Donald Trump’s executive order, which detailed a plan to establish a Bitcoin reserve using money lost in government criminal prosecutions, disappointed investors by not involving direct federal Bitcoin investments.
Bitcoin’s Next Move: Will a Drop to $70K Set the Stage for a Rebound?
According to Aurelie Barthere, chief research analyst at the Nansen crypto intelligence platform, cryptocurrencies and global markets are still in a macro correction as part of a bull market, despite the decline in investor sentiment. Analysts told Cointelegraph that it is difficult to predict the next major price levels because the majority of cryptocurrencies have breached important support levels.
This is a macro correction (US tech will be down by 3% in the future, as discussed), so we have to monitor BTC. Next level will be $71,000 – $72,000, top of the pre-election trading range. We are still in a correction within a bull market: Stocks and crypto have realized and are pricing; a period of tariff uncertainty and fiscal cuts, no Fed put. Recession fears are popping up,”
Barthere
Bitcoin might have a more severe decline toward the low $70,000 range, according to several analysts. Iliya Kalchev, a dispatch analyst at Nexo, a digital asset investment platform, told Cointelegraph that this decline might provide the groundwork for a longer-lasting rebound. Arthur Hayes thinks that Bitcoin’s possible regression to the psychological $70,000 barrier would still be consistent with the typical price action of a bull market.
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