Crypto Analyst Warns Bitcoin Price May Drop Below $78,000

Crypto analyst Pejman warns that the Bitcoin price may experience a crash if it falls below $83,500. He noted that BTC is completing a bullish flag pattern and anticipates a rally towards the $86,000 range.

Key Points

BTC rallied to $88,000 following volatility from recent tariff announcements.
Pejman suggests this rally could be a local top, with potential for further declines.
Recent corrections occurred as tariffs were announced, likely leading to bearish sentiment in the market.

Potential Price Drop

Analyst Kevin Capital projects BTC could drop to between $78,000 and $80,000.
There is significant long liquidity at these levels, which could influence market movements.
Market makers may transact in the $87,000 to $90,000 range before pushing prices lower.

Despite recent downtrends, analyst Rekt Capital remains optimistic about BTC's future growth, citing previous pullbacks followed by new all-time highs.

The current Bitcoin price is around $83,000, reflecting a decline of over 1% in the last 24 hours.