Bitcoin Expected to Re‑approach the $85,000 Level Soon – Reasons Explained

crypthub

3 days ago

Recent Price Trend and Forecast

Analyst KillaXBT notes that Bitcoin has risen steadily after falling to $80,000 in late November. He highlights a pattern of an 8% drop occurring after the 14th day of the last five months, labeling it the “14th Pivot.” This recurring decline suggests a short‑term correction is imminent. The observation forms the basis of his cautionary outlook for the coming days.

Potential Short‑Term Pullback

Bitcoin currently rides an ascending channel with higher lows and highs. KillaXBT predicts the channel will break, triggering at least a 5% dip after December‑14. He expects prices to retest the $85,000‑$86,000 range. While the broader trend remains bullish, weakened momentum could deepen the pullback.

Long‑Term Bottom Scenario

In a separate note, KillaXBT forecasts a bottom near $48,905, tied to the BlackRock IBIT ETF approval. Institutional inflows via Bitcoin Spot ETFs, especially BlackRock’s $71 billion, have driven the recent rally. A return to pre‑ETF levels would represent roughly a 46% decline from current prices. Such a move could signal major ETF outflows and spark a renewed crypto winter.