Can Bitcoin fall to $60,000?

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Analysts have different views on the future performance of Bitcoin. Ali Martinez, a well-known cryptocurrency analyst, mentioned that Fundstrat's managing director Mark Newton and analyst Benjamin Cohen also expressed concerns about the downward trend of Bitcoin prices. They believe that Bitcoin prices may fall to around $60,000.

Political events may cause Bitcoin to crash

Cohen pointed out that Bitcoin's trend may be affected by political events like other assets such as QQQ, especially when major political events occur (such as Donald Trump's presidential swearing-in day), which may trigger Bitcoin's crash.

Bitcoin's hope: breaking through key support levels

Despite bearish predictions, Bitcoin recently managed to break through the key support level of $97,300. To avoid further declines, Bitcoin needs to stay above $100,000. Once this level is broken, Bitcoin is likely to see a new rise, and some experts predict that its price may reach $168,500.

Market sentiment remains optimistic

Despite continued concerns about a Bitcoin crash, Bitcoin's Fear and Greed Index remains in the "greed" zone, currently at 74. This suggests that some traders are still hopeful about Bitcoin and believe it may soon experience a massive breakthrough.

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