Analyst Warns of Bitcoin Downside Risks

Written by Ohris M. Greyoon, Blockchain & Crypto Expert

Source: Coinmarketcap

Updated: 1 hour ago

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Technical Warning: Analyst Jesse Olson warns that Bitcoin could drop to $23,980 if the US stock market experiences a downturn of over 50%, indicating significant vulnerability under macroeconomic stress.
Weak Institutional Demand: The persistent negative Coinbase premium suggests muted professional demand, indicating that Bitcoin may face stronger selling pressure when risk appetite declines, impacting its market performance.
ETF Outflows: Since May, US spot Bitcoin ETFs have recorded $4.68 billion in net outflows, reflecting ongoing caution from professional allocators and exacerbating market uncertainty.
Changing Market Sentiment: Analysts note that institutions typically wait for market confirmation before investing rather than buying at potential bottoms, which could lead to greater price volatility for Bitcoin in the absence of institutional support.

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Technical Analysis for BTC

Technical Sentiment Analysis for Bitcoin (BTC). As of , Bitcoin (BTC) is exhibiting a Sell technical sentiment. Our proprietary analysis, which aggregates 4 technical signals, shows that 1 indicators are flashing buy, while 3 are indicating sell.

Momentum Indicators: RSI, MACD & Overbought/Oversold Status. Currently, the Relative Strength Index (RSI) for BTC stands at -, which suggests a Neutral condition. Meanwhile, the MACD (12, 26) indicator is at -, providing a Neutral signal for short-term momentum. Other oscillators like the Stochastic Oscillator at - and the Commodity Channel Index (CCI) at - further confirm a - outlook for the crypto.

Support, Resistance & Moving Averages. From a structural perspective, BTC is trading below its 60-day moving average of $- and below its 200-day long-term moving average of $-. Key price levels to watch include the immediate resistance at $- and strong support at $-. A break above $- could signal a bull continuation, while falling below $- may test the next Fibonacci floor at $-.

Bitcoin (BTC) Support & Resistance Level

Name	S3	S2	S1	Pivot Points	R1	R2	R3
Classic	57073.354	59672.712	62093.434	64692.792	67113.514	69712.872	72133.594
Fibonacci	59672.712	61590.383	62775.121	64692.792	66610.463	67795.201	69712.872

About BTC

Bitcoin is a decentralized cryptocurrency originally described in a 2008 whitepaper by a person, or group of people, using the alias Satoshi Nakamoto. It was launched soon after, in January 2009.Bitcoin is a peer-to-peer online currency, meaning that all transactions happen directly between equal, independent network participants, without the need for any intermediary to permit or facilitate them. Bitcoin was created, according to Nakamoto’s own words, to allow “online payments to be sent directly from one party to another without going through a financial institution.”Some concepts for a similar type of a decentralized electronic currency precede BTC, but Bitcoin holds the distinction of being the first-ever cryptocurrency to come into actual use.

About the author

Ohris M. Greyoon

Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.

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