Bitcoin (BTC ($86,344.06)) analysts say the decline could continue to $81,000 due to Donald Trump’s tariff statements, ongoing spot ETF outflows, and market uncertainty.
The leading cryptocurrency, Bitcoin, lost the $90,000 psychological support level on February 25 and fell to a three-month low of $87,000.
How Far Can Bitcoin Fall?
Ryan Lee, chief analyst at Bitget Research, said that the decreasing risk appetite of crypto investors is the main reason behind the current sell-off.
The analyst warned that continued spot ETF outflows and diminishing risk appetite could further deepen the decline, sending the BTC price as low as $81,000.
Lee stated that Bitcoin is in a correction phase and that at this stage, BTC could test the $86,000 and $81,000 support levels.
“Bitcoin price is trading in a consolidation range, with declines below $89,000 and the bears retreating to other lower support levels.
“If the bearish behavior in Bitcoin continues and in the absence of positive catalysts, the correction could deepen. Bitcoin could test the next support levels near $86,000 and $81,000.”
Apart from the Bitget analyst, Hong Yea, CEO of cryptocurrency exchange GRVT, also evaluated the decline in Bitcoin.
Stating that $85,000 is important for Bitcoin, the CEO said that falling below this level could accelerate declines and cause the liquidation of $1 billion worth of long positions.
“Geopolitical concerns, economic uncertainties, and policy changes affecting the broader economy could push BTC below $85,000 in the short term.”
*This is not investment advice.
Continue Reading: Analysts Warned: Shared Critical Levels for Bitcoin (BTC)! “If This Level Is Broken, The Decline Will Continue!” creator solana token
