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>>Three Levels to Watch for Bitcoin: Top Analysts Warn of a Possible Decline Below $70,000

Three Levels to Watch for Bitcoin: Top Analysts Warn of a Possible Decline Below $70,000

crypthub

1 day ago

Recent Price Action

Bitcoin started the year strong but faced strong resistance, slipping briefly below $90,000. The dip highlights short‑term volatility after a solid rally. Analysts are watching key levels to gauge the next move. Current market sentiment is cautious amid the recent drop.

Critical Price Levels

Ted Pillows flags $89,200 as a vital support; a break could push Bitcoin toward $87,500. Losing $87,500 on a daily basis may signal a deeper downtrend. Reclaiming the $94,000‑$95,000 range could trigger a rise to $102,000‑$103,000. Ali Martinez warns that staying above $87,200 is essential to avoid a plunge to $69,230, a potential 24% loss.

External Influences

Bitcoin ticked up to about $91,390, helped by the U.S. Supreme Court delaying a ruling on Trump’s tariffs case. The decision is expected to add short‑term market volatility. Traders are factoring this legal uncertainty into price forecasts. It underscores how non‑technical events can sway crypto markets.

Bitfinex Whale Activity

Bitfinex whales are rapidly unwinding long BTC positions, a pattern that often precedes market turbulence. A similar unwind in early 2025 preceded a 50% rally from $74,000 to $112,000 in 43 days. Analysts suggest a comparable surge could target $135,000 or higher, possibly setting a new all‑time high. Whale activity may reduce pressure and allow price‑pushing algorithms to drive Bitcoin upward.