Analysts and prominent market commentators have warned of deeper losses for Bitcoin following a violent sell-off across global financial markets that wiped out trillions of dollars in value.
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Crypto Influencers Turn Bearish
On Thursday, well-known crypto influencer Crypto Bitlord warned that Bitcoin could fall significantly further, identifying $30,000 as the next major support level.
“The next major support for bitcoin is $30k,” the X account wrote.
“Unfortunately.”
Benjamin Cowen, founder of crypto analytics platform Into The Cryptoverse, echoed the bearish outlook, saying Bitcoin’s weakness aligns with historical trends and macroeconomic tightening.
“Today, we’re going to talk about Bitcoin and discuss why the price is dropping and why I think it will likely continue to drop,” Cowen said in a recent YouTube video.
Cowen said he believes Bitcoin has already transitioned into a bear market after peaking in October 2025.
“I do think Bitcoin is, in fact, in a bear market,” he said.
“My guess crypto continues to drop,” Cowen added, adding that “Bitcoin is likely going to keep bleeding against the stock market.”
Global Market Crash Wipes Out Trillions
Bitcoin’s slide comes amid a broader global market rout that saw roughly $3 trillion in market value erased in less than an hour on Thursday.
Precious metals, despite recent historic rallies, were not spared.
Gold lost around $1.5 trillion in market value, with prices falling nearly 10% from recent highs, while silver fell about 12%.
Peter Schiff Highlights Bitcoin’s Price Decline
Longtime Bitcoin critic Peter Schiff took his chance to weigh in on BTC’s falling, arguing that the asset has significantly underperformed gold over the long term despite growing institutional support.
“Bitcoin is now worth just 15.5 ounces of gold, down 57% from its 2021 high and just 10% above its 2017 high,” Schiff wrote.
“Despite all the hype and support from Wall Street and the Trump administration, most people who now own Bitcoin would have been better off buying gold or silver instead,” he added.
CCN Bitcoin Price Outlook
From a technical standpoint, analysts say Bitcoin’s chart structure has deteriorated further.
Victor Olanrewaju, an analyst at CCN, said Bitcoin confirmed a bearish reversal pattern on the daily chart after breaking key support levels.
“From a technical perspective, Bitcoin’s price extended its sell-off, breaking below the $86,400 neckline and confirming a head-and-shoulders breakdown on the daily chart,” Olanrewaju said.
“Momentum indicators back the downside move,” he said, pointing to the Moving Average Convergence Divergence indicator crossing into negative territory.
Olanrewaju said that if selling pressure persists, Bitcoin could drift toward $80,517 “if the crypto market crash fails to turn around.”
He warned that a deeper decline could see prices test $78,000, where prior demand and structural support sit.
However, a swift recovery above the neckline could invalidate the bearish setup and lead to a bounce toward $92,219.
