Bitcoin Price May Drop to $63,000 If Resistance Holds
The price of Bitcoin has recently dropped below $90,000, surprising the crypto community amid bullish expectations. A crypto analyst suggests it could decline further to around $63,000 if resistance at $99,500 holds.
- TradingView's Alixjey indicates that Bitcoin needs to surpass $99,500 to avoid further declines.
- If resistance holds, a drop to $60,000-$65,000 is projected, which might present a buying opportunity for long-term investors.
- The last time Bitcoin was near $60,000 was during a significant rally in 2024 following the launch of Spot Bitcoin ETFs.
- Alixjey describes the potential downturn as a critical re-entry point and anticipates a rebound later in 2025.
- He identifies key liquidity levels that may influence short-term price movements.
- Volatility may increase with upcoming Non-Farm Payroll data releases.
Analyst Herbert Sim forecasts even lower prices, predicting a potential crash to $40,000 due to macroeconomic factors but believes recovery is possible for those who can hold long-term.
