Bitcoin (BTC) to Hit $70K? Expert Hints Potential Market Crash
It is expected that in the next few days, Bitcoin (BTC) is the world’s largest cryptocurrency, and it is expected to continue its price decline. Its daily chart shows the price movement. As of January 27, 2025, as of today, the overall cryptocurrency market, including BTC and other major assets, has experienced a sharp decline.
Why does Bitcoin (BTC) fall?
However, the potential of the market decline is the main decomposition of China’s Deepseek AI and BTCs that have been maintained in the past 10 days.
Due to the development of these situations, the current transaction price of BTC is close to $ 99,500, a 6 % decrease in prices in the past 24 hours. Despite this, traders and investors showed strong interest and confidence, resulting in an increase of 310 % of the transaction volume at the same period.
In addition to the strong participation of traders and investors, BTC also attracted the attention of encrypted experts.
Experts suggest that BTC may reach $ 70,000
Recently, Arthur Hayes, a well -known encrypted expert and CEO of Bitmex, made bold predictions on X (previously Twitter). He predicts that Bitcoin (BTC) will drop to US $ 70,000 to $ 75,000, causing mini financial crisis. However, he added that currency printing will begin later, and the price of $ BTC will be pushed to $ 250,000 by the end of the year.
Bitcoin (BTC) technical analysis and upcoming level
In addition to this prediction, the price action of BTC also marks the trend of loser. The daily chart shows that BTC has erupted its long -term merger scope, which has maintained from $ 99,700 to $ 107,000.
After this collapse, the market emotions have decisively shifted to the drop. According to the recent price action, if the BTC closes the level of the daily candle below $ 99,000, then in the near future, it may decrease by 9 % by 9 %.
When the market sentiment is combined with the drop of price action, it seems that the strength of the Bulls has been exhausted, and the bear team is currently dominated by assets. This transformation can benefit the short sales side in the short term.
