Will Bitcoin Drop Even Lower? Here’s What Experts Predict

Bitcoin is currently experiencing a significant downturn, with its price dropping below $80,000 for the first time since November 11. This represents an 18% decrease since the beginning of the week and a 27% decrease from its all-time high of $109,588 on January 20. Various factors such as Trump tariffs, outflows from spot BTC ETFs, and high levels of liquidations in the futures markets have contributed to this decline.

Analysts have differing opinions on where Bitcoin’s price may go next. Some, like Scott Melker, point to a developing bullish divergence on multiple timeframes, indicating a potential rebound. Others, like Tony Severino, suggest that Bitcoin may be following a corrective pattern that could lead to further downside, potentially reaching $75,000.

Josh Olszewicz looks at the Ichimoku Cloud for insights and mentions the possibility of Bitcoin retesting weekly kijun support at $74,000. Daan Crypto Trades notes that Bitcoin’s Daily RSI is at a level not seen since 2023, which could be a signal of interest from buyers. Ki Young Ju emphasizes the role of liquidity in Bitcoin’s price movements and predicts a consolidation phase between $75,000 and $100,000 until a new catalyst emerges.

At the time of writing, Bitcoin is trading at $78,856, and the market sentiment is characterized by extreme fear. It remains to be seen whether Bitcoin will continue its downward trend or if a potential rebound is on the horizon.