Experts predict a 15% drop in bitcoin after the failure of the psychological mark

Bitcoin BTC $92,724.20 Bitcoin 4.67% Market capitalization $1.84 trillion VOL. 24 hours $3.97 billion is at risk of falling by 15% after failing to gain a foothold near the $ 89,000 mark. Analysts note that the cryptocurrency market is currently at a critical level: key technical indicators signal a possible downward reversal of the BTC rate after the recent jump.

According to Cointelegraph Markets Pro and TradingView, BTC hit an April high of $ 88,874, but was rejected when it tried to break through the 200-day simple moving average (SMA). A trader at Daan Crypto Trades notes: «An interesting position. Bitcoin broke out above the 200-day exponential moving average, but bounced sharply off the 200-day SMA. It is important to hold $ 85,000.» The current uncertainty is due to the fact that this SMA usually serves as support in a bull market, but was lost back in March.

Another trader, Roman, emphasizes technical signals: the Relative Strength Index (RSI) is in an overbought zone, which in the historical context often preceded a correction of 10−15%. He notes that a similar situation has already been recorded four times in a row, and current trends in the stock market, in particular the decline in the S&P 500 index, only increase these risks.

Nevertheless, some market participants believe that the current downturn may be temporary. Trader Cas Abbe says that the reversal has already begun and sees signs of stabilization, including the accumulation of BTC by large players (whales) and the growth of the Coinbase premium. He is convinced that the bottom has been formed at $ 74,000-$ 75,000, and we can expect growth to resume in the near future.

According to analysts, the situation on the crypto market now largely depends on global macroeconomic factors. A weak dollar, record global money supply, and a delayed reaction to the rising gold price create the basis for a new wave of BTC growth. However, market risks remain high, and no forecasts can guarantee profits.