Key Takeaways

• Bitcoin trades below $94,500 as bears return, aiming to push its price lower.

• Crypto experts and traders hint at a strong bearish market sentiment to the downside, as the price of BTC sees a death cross.

• BTC’s price, trading toward a region of $85k based on speculation, could see altcoins suffer a huge market loss. 

The cryptocurrency market hasn’t been an easy ground for many traders, investors, and retailers in the last few weeks as there have been many uncertainties in the price of Bitcoin (BTC), the crypto market’s number one asset, and also altcoins struggling to find a solid price action to a potential highs as prices are at the risk of more price crashes. 

Following the price of BTC trading at a key weekly high of $116K, the price of the crypto asset saw a rejection from bears from that region, into $98k as the price rebounded from this key support zone that has held the price for months.

However, the price of Bitcoin bulls have failed to protect this zone as bears are determined to push prices lower towards a region of $85k in the coming few days to weeks, as market sentiment for Bitcoin and altcoins has switched to extreme fear and uncertainty. 

While many traders were calling for potential new all-time highs for the crypto market, things have slipped drastically, as traders and investors are hoping for a bullish market reversal in the coming weeks. 

Bitcoin 1W Price Analysis

Source – Bitcoin 1W Price Analysis from TradingView

Price action for BTC has not been encouraging in the last few days, as the crypto asset has been in a downtrend since breaking below its key zone of $98k. The price could suffer a further crash towards $85k following the recent BTC death cross.

According to analysis and statistics, the price of BTC, with a death cross, signals that the top is in for Bitcoin and altcoins. This top is typically followed by a significant market crash with no clear exit plan. The price of Bitcoin is currently trading near the $85k mark, facing a strong bearish downtrend. 

While many crypto analysts and traders have shared their speculations about the direction of BTC, crypto expert and on-chain trader Ali Martinez has taken to his X account to speculate that the price of BTC is headed to $85,000, as the price continues to see a huge market crash. 

Additionally, the price chart of BTC suggests that the price could be heading towards $85,000 on the weekly timeframe, as this zone has huge liquidity waiting for the price to break through and a bullish market continuation to the upside. 

Traders and investors will be waiting for the reaction of Bitcoin in the coming days before making any investment decisions that could affect their trading decisions regarding the crypto asset. 

FAQs

Bitcoin price today

BTC currently trades below $95k for the first time in months, following a recent market crash from a high of $116k to $98k.

How much is Solana today?

The price of SOL trades around $135 at the time of writing, as it aims to rally towards $188.

Is BTC expected to rise or fall?

The price of Bitcoin, attempting to rebound from its key support zone of $98k failed as bears continued to push its price lower.

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