As bitcoin (btc) hovers around $92,000 and the critical $100,000 resistance level, the cryptocurrency The market is rife with speculation about his next moves. Prominent crypto analyst Ali Martinez recently outlined potential scenarios for the future of btc, suggesting that a strong correction may be on the horizon.
crypto Experts Flag Concerns
In recent social media posts <a target="_blank" href="https://x.com/ali_charts/status/1872271687728963774″ target=”_blank” rel=”noopener nofollow”>highlighted According to Martínez, several renowned analysts have indicated that bitcoin could experience a significant drop. Martinez noted a bearish sentiment within the market, citing that bitcoin could fall as low as $60,000.
Tone Vays, a respected figure in the crypto space, warned that trading below $95,000 is “very, very bad,” as it increases the likelihood of a correction towards $73,000. Similarly, Peter Brandt flagged a possible breakout of a “widening triangle,” projecting a pullback toward the $70,000 range.
Adding to the bearish outlook, Fundstrat's Mark Newton suggested that while bitcoin could reach $250,000 by 2025, a drop to $60,000 is likely in the near term.
Meanwhile, another analyst, known as Intocryptoverse, speculated that bitcoin could mirror the price action of the QQQ index offered by Invesco, with a sudden drop that could coincide with President-elect Donald Trump's inauguration day on January 20.
From an on-chain perspective, analysis indicates that if bitcoin falls below $93,806, it could face a free fall to $70,085, reinforcing the likelihood of a correction.
In particular, smart investors appear to be preparing for a bearish scenario; Over the past week, more than 33,000 bitcoin, valued at approximately $3.23 billion, were transferred to exchanges. Furthermore, on December 23 alone, traders made more than $7.17 billion in profits.
bitcoin Must Recover $100,000 to Avoid Bearish Outlook
Recent data from Binance further shows a notable shift in trader sentiment, with the percentage of traders holding long positions in bitcoin falling from 66.73% to 53.60%. This drop reflects growing caution among investors, as bitcoin recently broke below a significant support zone at $97,300.
For him bearish outlook To be invalidated, Martinez states that btc must reclaim this critical support area and close above $100,000 daily. If it can reach and maintain this level, he believes the cryptocurrency could embark on a new upward trajectory, potentially reaching as high as $168,500.
Despite the prevailing bearish sentiment, Martínez also presented a more bullish scenario. He suggested that a 20% to 30% correction could actually set the stage for a stronger recovery.
According to your <a target="_blank" href="https://x.com/ali_charts/status/1872720353409016049″ target=”_blank” rel=”noopener nofollow”>analysisa 30% drop would see btc plummet to around $65,000 for current trading prices, a level not seen since October. This correction could serve to reset market sentiment and set the stage for future growth.
At the time of writing, the market-leading cryptocurrency is trading at $94,560, recording losses of 2% and 3% on the 24-hour and weekly time frames, respectively.
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