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BitcoinSistemi 2025-01-14 10:01:06

What Will Happen Next in Bitcoin Price? Analysts Evaluated Yesterday, Saying That Was a Breakout

What Will Happen Next in Bitcoin Price? Analysts Evaluated Yesterday, Saying That Was a Breakout

Bitcoin has fallen below the critical $91,600 support level, signaling a potential move into bear territory, according to market analysts. Bitcoin’s recent price action may have formed a “head and shoulders” formation, a classic indicator of a reversal from an uptrend to a downtrend, said Piotr Matys, senior forex analyst at Intouch Capital Markets. “A break below $91,600 is a strong technical bearish signal for Bitcoin,” Matys said. The bearish outlook was echoed by Alex Kuptsikevich, a senior market analyst, who predicted that Bitcoin’s next low could be around $88,000 if the negative sentiment continues. Kupikevich added that a sharper correction to $74,000 was on the cards. Related News: Everyone's Talking About MicroStrategy, But Another Company Bought Bitcoin - But There's a Problem This is in sharp contrast to Bitcoin’s 2024 rally, which was fueled by the launch of a US exchange-traded fund (ETF) directly tied to Bitcoin and US President-elect Donald Trump’s vocal support for the cryptocurrency sector. Enthusiasm waned in 2025 as traders adopted a wait-and-see approach as they awaited clarity on the new administration’s policies following Trump’s inauguration on January 20. *This is not investment advice. Continue Reading: What Will Happen Next in Bitcoin Price? Analysts Evaluated Yesterday, Saying That Was a Breakout

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