Bitcoin Bear Market ‘Lines Up’ With 2022, Analyst Warns Of Next Stop At $45,000 And $35,000
Bitcoin and the broader crypto market experienced significant declines, with BTC dropping roughly 5% to around $71,240. Analyst Crypto Con warns that the current downturn may mirror the 2022 bear market, with potential further retracements toward $45,000 or even $35,000, citing historical cycle patterns and technical indicators. The Federal Reserve’s decision to maintain interest rates and its updated inflation forecast contributed to a cautious market tone. Expert Kyle Chassé emphasized that Bitcoin’s near-term direction depends on the Fed’s interpretation of recent oil price shocks and key technical levels: holding $70,000 is critical, while a break could lead to a test of $67,000. Institutional ETF flows and low volatility also signal potential renewed market movement.
bitcoinist03/19 10:51