Bitcoin Price Crash - Is It Time To Sell BTC?
Global Head of Technical Strategy at Fundstrat Mark Newton reveals that the Bitcoin price could dip to $60,000 early in 2025.
While Fundstrat’s CEO Thomas Lee believes that BTC will eventually hit $250,000 next year, a dip to $60,000 is likely. Former White House Director of Communications also conceded this possibility.
Similarly, former Wall Street quant Tone Vays reveals that Bitcoin’s range-bound movement near 95,000 is concerning. Vays highlights that the likelihood that BTC breaks down below $92,000 has considerably increased, which could result in a larger crash to $73,000.
Legendary trader Peter Brandt has also cautioned the bulls. A breakdown below the current broadening triangle on the BTC price chart could result in a correction to $70,000.
Benjamin Cowan also highlights the similarity between Bitcoin and NASDAQ (QQQ). If BTC continues to follow QQQ’s fractal, a flash crash to $60,000 could be on the cards, perhaps near Donald Trump’s inauguration on January 20th.
It is now imperative for the bulls to hold the $92,000 - $93,800 range in the coming days. A sustained close below it could pave the way for the aforementioned crypto crashes. On the contrary, a breakout above $97,300 - and eventually $100,000 - could result in new all-time highs.
In this bullish scenario, prominent analyst Ali Martinez indicates that the Bitcoin price could hit $168,500.
