Analysis: BTC may fall to the $70,000 to $80,000 range, with few obvious positive catalysts in the short term
Jeff Mei, chief operating officer of BTSE, said in an interview with CoinDesk that geopolitical and economic uncertainties are prompting institutions to reduce their holdings of crypto assets, and Bitcoin may fall to the range of $70,000 to $80,000 in the next few weeks. He pointed out that only when the tariff war ends and the Federal Reserve resumes interest rate cuts can the major cryptocurrencies return to their previous historical highs. In addition, Augustine Fan, head of insights at SignalPlus, expressed a pessimistic view on the technical prospects of Bitcoin. He believes that the current technical side of the price trend is very negative, and the high realized volatility further worsens the risk-adjusted performance of Bitcoin, while there are few obvious positive catalysts in the short term. CoinDesk's analysis also pointed out that Bitcoin is testing the 200-day simple moving average (SMA), and 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.