Will Bitcoin price plummet to $60,000 before Donald Trump's inauguration?

Click on the avatar live and watch the live broadcast to catch the bull market!

As the price of Bitcoin fell below the $95,000 support, top analysts warned that Bitcoin is expected to plummet to $60,000-70,000 before Trump's inauguration on January 20.

Bitcoin faces huge selling pressure

Bitcoin immediately encountered strong selling pressure after breaking through $100,000 during the Christmas period, and the price quickly fell back to $95,000. On-chain data shows that Bitcoin lacks sufficient buying support to rise further. If it fails to hold the current support zone, the price may fall sharply.

Key support level lost, the risk of collapse is increased

Analyst Ali Martinez pointed out that Bitcoin's key support zone is between $97,041 and $93,806. If it falls below these areas, it may fall further to $70,085. In the past week, a large amount of Bitcoin has been transferred to exchanges, indicating that market sentiment is cautious and there may be further selling pressure.

Short-term bearish sentiment spreads

Several analysts warn that if Bitcoin fails to hold the $95,000 support, it may fall to $73,000 or even lower. Data from the exchange's fund flows and derivatives markets also show that the market is not optimistic about Bitcoin in the short term.

Altcoins have a greater chance of recovery

As Bitcoin faces the risk of collapse, many investors have begun to turn to altcoins. Analysts believe that despite the uncertain outlook for Bitcoin, altcoins still have strong recovery potential and may become a new choice for investors.

Click the avatar live and watch the live broadcast to catch the bull market!