How Low Can Bitcoin Price Go? Analysts Point to Two Key Levels
The post How Low Can Bitcoin Price Go? Analysts Point to Two Key Levels appeared first on Coinpedia Fintech News
Bitcoin has fallen below $97,000 once again, raising new fears across the market as more than $1.1 billion in long positions were liquidated within 24 hours. This marks the third time in a month that Bitcoin has slipped under this zone
. With sentiment weakening fast, the biggest question now dominating the market is simple: How low can Bitcoin really fall from here?
Analysts Identify Two Danger Zones AheadCrypto analyst Axel Adler Jr has highlighted two critical levels that could decide Bitcoin’s next major move, and both levels carry serious weight.
The first key support sits near $87,000, a zone identified using what Adler calls a “conservative Bitcoin valuation model.”
This model, scoring 95/100 in back testing, is based entirely on on-chain activity and explains 87% of Bitcoin’s price behavior. Because of this, the $87K level is viewed as a strong, fundamentally backed support.
The most critical question that will concern all investors right now: how deep will the market correction go in this bear phase?
I've identified two critical levels:
Level 1 = $87K
Level 2 = $74K
Why specifically $87K was discussed last week when I covered the conservative… pic.twitter.com/tsKplZdPGe
