Despite the recent rally to a new all-time high (ATH) of $111,900, crypto analysts have warned that the Bitcoin price could still witness a massive crash that will send it below $100,000. These analysts highlighted fundamentals and technicals that could spark this price crash.
Analysts Highlight Why Bitcoin Price Could Still Crash Below $100,000
In a TradingView post, crypto analyst Stephan mentioned the geopolitical tensions, with the Russia-Ukraine conflict intensifying as one of the factors that could spark the Bitcoin price crash. He explained how this conflict could drive investors toward safe-haven assets, such as gold. The analyst also noted that Bitcoin ETFs experienced modest outflows last week.
Stephan’s accompanying chart showed that the Bitcoin price could drop to as low as $96,765 as it retests the psychological $100,000 support level. Crypto analyst Nova also warned that Bitcoin could drop to $100,000 while providing a technical analysis of the flagship crypto’s current price action.
In a TradingView post, Nova stated that if the Bitcoin price faces resistance around the $106,406 daily level and continues to correct, it could extend the decline to retest the psychologically important $100,000 mark. She further revealed that the Relative Strength Index (RSI) on the daily chart is at 53, trending downwards to the neutral level of 50. This indicates weakening bullish momentum.
Nova also stated that the Moving Average Convergence Divergence (MACD) showed a bearish crossover last week. Meanwhile, the analyst alluded to the increasing red histogram bars below the baseline, which she claimed further signal a potential correction ahead. Her accompanying chart showed that the Bitcoin price could drop to $99,000 as it retests the $100,000 level.
Crypto analyst Kevin Capital also called for caution at the current Bitcoin price level. He stated that nothing has changed for the flagship crypto and indicated that there was no need to be ultra bullish at this current level. The analyst earlier warned that things could get sketchy looking for BTC if it fails to reclaim $106,800 soon enough.
BTC Could Still Rally To $135,000 This Year
In an X post, crypto analyst Titan of Crypto raised the possibility of the Bitcoin price rallying to $135,000 this year. He noted that BTC has broken out of a right-angled descending broadening wedge, and if the price holds above the breakout zone, $135,000 becomes a realistic target. The analyst added that the structure is clean.
Crypto analyst Mikybull Crypto stated that the Bitcoin price is gearing up for a new all-time high. He further remarked that $120,000 remains a magnet for the flagship crypto in this market cycle. Meanwhile, veteran trader Peter Brandt predicted that BTC could reach $150,000 by late summer 2025.
At the time of writing, the Bitcoin price is trading at around $105,400, down in the last 24 hours, according to data from CoinMarketCap.
Featured image from Getty Images, chart from Tradingview.com
