The price of Bitcoin has been struggling recently, experiencing a notable decline over the past two weeks. With BTC dropping to $95,120, cryptocurrency enthusiasts are worried about a massive crash ahead.
The decline intensified and market confidence was shaken
In the past 24 hours, the price of Bitcoin has fallen by 4%, falling to $95,200. In just a few days, it has fallen from about $100,000, and investors are worried about whether there will be a bigger drop. According to Coingecko data, the total market value of Bitcoin remains at around $1.89 trillion, but the trading volume of $4.47 billion cannot stop the bearish voice in the market.
A series of negative news has further fueled pessimism in the market. Although Bitcoin has still risen by triple digits since the beginning of the year, many well-known analysts believe there is a risk of Bitcoin returning to $70,000 or even $60,000 in the short term. Continuous selling pressure and a strong dollar have clearly constrained bullish momentum.
Key analysts: target prices vary.
Senior trader Peter Brandt observed a 'broadening triangle' pattern in Bitcoin's daily chart, suggesting increased market volatility but uncertain direction. A downward breakout could target $70,000. Tone Vays highlighted that $95,000 is crucial for Bitcoin; a drop below this point would indicate a 'very unfavorable' technical outlook, increasing the risk of a retracement to $73,000.
Another analyst, Ali Martinez, emphasized the predictions of respected figures in the cryptocurrency space, such as Tone Vays. Vays warned that $97,041 and $93,806 are key short-term support levels for Bitcoin; if these levels are breached, it may face a crisis plunging down to $60,000. Notably, over the past week, more than 33,000 Bitcoins (valued at over $3.23 billion) have flowed into exchanges, which often symbolizes significant selling pressure, detrimental to price increases.
Market outlook for the next few weeks:
1. Spot holdings may face significant withdrawals, which could be very painful during this period. Whether to avoid risks in advance depends on your decision-making and patience. Perhaps, this will be a test on your investment journey.
2. If you can hold on and tough it out through this challenging period, the next wave of increases will be extremely beneficial for some key coins, potentially even completely offsetting your previous drawdowns! Those investors who can endure the loneliness may reap substantial rewards in the future.
3. The market has not 'ended'; a new bullish phase is expected in the next 4 to 8 weeks. Certain countries have a more positive attitude towards cryptocurrency, and the macroeconomic environment is also showing favorable signs, providing strong support for the market and creating ideal conditions for an uptrend.
4. There are currently no clear predictions regarding market rotation. It is challenging to accurately determine which coins or sectors will lead the market. From a rotation perspective, almost all coins could rise, but the market is not showing a comprehensive upward trend. Future opportunities still await those with insight!
Three potential cryptocurrencies will take you to the pinnacle of crypto wealth!
UNI
Uniswap, a decentralized trading platform running on the Ethereum protocol, is leading a new trend in crypto trading as an innovator. Unlike centralized cryptocurrency exchanges, Uniswap automates and transparently facilitates trades through smart contracts, earning widespread trust from users.
The recent Uniswap v3 has introduced a method to provide individual price ranges and convert LP positions into NFTs. This innovation has positively impacted the appeal of UNI tokens as top investments in the decentralized finance sector. Notably, Uniswap is actively investing in efficiency improvements, making it a promising player in the decentralized exchange market.
NEAR
Near Protocol is a rising star in the blockchain world. NEAR is known for its user-friendly approach and sharding technology, aiming to make blockchain accessible to both developers and everyday users. Its ability to handle fast, low-cost transactions sets it apart in the competition.
As more and more projects choose NEAR as their preferred platform, it has become one of the best cryptocurrency choices for 2025. If scalability and innovation are your top priorities, NEAR can meet your needs.
MOVE
The MOVE token has attracted attention due to its outstanding performance. Since its debut on December 9, MOVE has maintained a strong bullish trend. In the past 24 hours, it recorded a 9.18% increase, bringing its weekly growth rate to an astonishing 53.76%. Today, MOVE's price is around $1.03, teetering on the brink of breaking through the classic cup and handle pattern. This bullish pattern typically indicates further growth.
The rapid rise of MOVE is mainly attributed to its partnership with leading digital asset custodian and security provider BitGo. This partnership brings WBTC (Wrapped Bitcoin) to the Movement mainnet, expanding its DeFi ecosystem. Additionally, the launch of Movement's mainnet two weeks ago played a crucial role in its development. As an Ethereum Layer 2 network powered by MoveVM, Movement distributed a portion of MOVE tokens to early adopters and community members, further sparking interest.
Despite the promising setup for MOVE, traders should remain cautious. If it fails to break through the current resistance level, a short-term retracement may occur, potentially finding support around $0.83. However, if MOVE successfully breaks through, it may continue its impressive upward trend. If you're still feeling confused and don't know how to start in this market, comment '333' to strategize together.
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