Analyst Predicts Bitcoin Price Could Drop to $80,000

Crypto analyst Akademik predicts a potential Bitcoin price drop to $80,000. He suggests the price may also decline to $60,000 based on current market conditions.

Key Predictions and Insights

Bitcoin's short-term outlook remains bearish.
Current trading strategy involves shorting BTC.
Price recently fell to around $93,000 before rebounding above $95,000.
A supply wall at $97,000 indicates greater selling pressure than buying interest.
A decline in mining activity typically precedes prolonged price corrections.

Long-Term Outlook

Analyst Titan of Crypto maintains a bullish long-term trend for Bitcoin.
Current market phase is 'depression', suggesting one last pump before a cycle ends.

The current Bitcoin price is approximately $95,300, reflecting a decrease in the past 24 hours.