Daan Crypto: Bitcoin may fall to $ 76,000

Bitcoin BTC $89,682.93 Mezo Wrapped BTC 3.88% Market capitalization $40.56 million VOL. 24 hours $1.44 billion holds a critical technical level, the breakout of which could trigger a deeper price correction to $ 76,000. This was stated by an analyst with the nickname Daan Crypto Trades, who pointed out that the current support zone is located at the Fibonacci retracement level of 0.382, just above $ 84,000. According to him, historically, this mark has served as an important boundary for bitcoin’s market cycles. «This is a key area that the bulls have to defend,» the expert emphasized.

If the price breaks through this level, the analyst predicts a decline to $ 76,000, which will be «the last significant support before retesting the April lows.» This could disrupt the market structure on the larger timeframes. on December 7, the market experienced another «leverage reset,» which led to the liquidation of both long and short positions: quotes briefly dropped below $ 88,000, but quickly recovered above $ 91,500. The Bull Theory analyst noted that this is yet another example of manipulation in the face of low liquidity over the weekend.

The key factor for further price movement will be the meeting of the US Federal Reserve scheduled for December 9−10. Most analysts expect a 0.25% cut in the prime rate, with the probability of such a move exceeding 90%, according to the FedWatch tool. However, according to Marcus Thielen, head of 10x Research, the rhetoric of Fed Chairman Jerome Powell may remain «restrainedly hawkish,» which will maintain moderate pressure on risky assets, including cryptocurrencies.

Thielen noted that trading volumes and inflows to bitcoin ETFs remain weak, and volatility continues to decline, making downside risks more likely than the potential for further growth. At the same time, other experts, such as Henrik Andersson of Apollo Capital, suggest that the expected rate cut has already been taken into account by the market, and that future Fed decisions in 2026 could be supportive for cryptocurrencies.

According to Nick Ruck, head of LVRG Research, further dynamics will be determined by macroeconomic data on employment and inflation. If they confirm the trend toward monetary policy easing, the market may resume growth. At the same time, Bitfinex analysts note that the crypto market is currently entering a stabilization phase after a wave of short-term investors' capitulation and a reduction in debt.