Analysis: BTC may fall to the $70,000 to $80,000 range, with few obvious positive catalysts in the short term

PANews reported on March 10 that BTSE Chief Operating Officer Jeff Mei said in an interview with CoinDesk that geopolitical and economic uncertainties are prompting institutions to reduce their crypto asset holdings, and Bitcoin may fall to the $70,000 to $80,000 range in the coming weeks. He pointed out that only when the tariff war ends and the Federal Reserve resumes interest rate cuts, major cryptocurrencies may return to their previous historical highs.

In addition, Augustine Fan, head of insights at SignalPlus, expressed a pessimistic view on the technical outlook of Bitcoin. He believes that the current price trend is very technically negative, and the high realized volatility further deteriorates Bitcoin's risk-adjusted performance, while there are almost no obvious positive catalysts in the short term.

CoinDesk's analysis also pointed out that Bitcoin is testing the 200-day simple moving average (SMA). If it falls below this key support line, it may mean the break of an important trend line. Both market sentiment and technical aspects show great downward pressure.