- Ongoing Bitcoin declines have forced analysts to continually revise downside targets as key supports break.
- One analyst warns BTC could fall toward $76,000, calling it the next major liquidity zone.
- Experts argue historical patterns point to a deeper correction, possibly as low as $30,000.
Bitcoin’s downtrend has entered a new phase, and it’s alarming even seasoned analysts. After weeks of correction, BTC has plunged to $83,000, a level almost no one projected this early. Also, several analysts say the “next liquidity pocket” sits far lower, and Bitcoin may be heading straight toward it.
According to new market opinion, Bitcoin is now trading inside a tight downside range between $86,000 and $76,000, suggesting that the next major liquidity zone sits around $76,000. This range-bound compression typically occurs when market makers and large holders reposition orders to capture forced liquidations, a sign that volatility may soon spike again.
The analyst says the $76,000 area holds one of the largest liquidity clusters on the chart, potentially acting as a short-term support where price could temporarily stabilize or stage a relief bounce.
Bitcoin Keeps Losing Critical Support Levels. Analysts Are Adjusting Targets Fast
After Bitcoin’s rejection from its all-time high of $126,000, strategists were initially watching $112,000 as the critical level needed for a macro rebound.
But Bitcoin failed to reclaim $112,000 and has since broken through every subsequent support level, undermining bullish expectations across the board. Analysts are now openly lowering targets as BTC continues to invalidate earlier bullish structures.
At the time of writing, Bitcoin has dropped to $82,000, accelerating downward momentum and dragging market sentiment with it. Spot volumes have weakened, derivatives funding has flipped negative, and open interest has been unwinding. Which are all signs that sellers still have control.
Could Bitcoin Really Fall to $30,000? Historical Patterns Suggest It’s Possible
Beyond the $112,000 breakdown, Bitcoin has also lost its 50-week Simple Moving Average (SMA). One of the most widely watched long-term trend indicators. After closing below this level a few weeks ago, BTC is failing to reclaim it, confirming a bearish macro shift.
One analyst hinted that based on prior cycles, losing the 50-week SMA often precedes corrections of up to 66%. From the price point at which he issued the warning, such a drawdown would send Bitcoin toward $30,000 .
This is a level that was considered unthinkable just months ago, but it’s increasingly resurfacing in technical projections.
More Must-Reads:
- Bitcoin Faces 66% Crash Warning After Losing Critical Support Level
- Bloomberg Analyst Warns Bitcoin Could Face a 90% Reset – Just Like 2018
- Analysts Turn Bearish as Bitcoin Weekly Close Spells Doom
What do you think?
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