Analysts Warn Bitcoin Price Could Drop Below $100,000 Despite ATH
Bitcoin recently reached an all-time high (ATH) of $111,900, but analysts caution a potential drop below $100,000 is possible due to various factors.
Reasons for Potential Bitcoin Price Drop
- Geopolitical tensions, particularly the Russia-Ukraine conflict, may lead investors to safer assets like gold.
- Recent outflows from Bitcoin ETFs indicate weakening interest.
- Analyst Stephan predicts a price drop to $96,765, retesting the psychological $100,000 support level.
- Analyst Nova indicated resistance at $106,406 could trigger further declines towards $100,000.
- Relative Strength Index (RSI) shows bearish momentum with a current reading of 53.
- Moving Average Convergence Divergence (MACD) indicates a bearish crossover and potential correction.
- Kevin Capital warns that Bitcoin must reclaim $106,800 soon to avoid negative trends.
Possibility of Bitcoin Rallying to $135,000
- Analyst Titan of Crypto suggests a rally to $135,000 is possible if Bitcoin maintains its breakout above a descending broadening wedge.
- Mikybull Crypto anticipates a new ATH, with $120,000 as a target in this market cycle.
- Veteran trader Peter Brandt forecasts Bitcoin could reach $150,000 by late summer 2025.
Currently, Bitcoin trades around $105,400, experiencing a decline over the last 24 hours.
