As selling pressure on Bitcoin continues, market analysts are warning that sharper declines could occur if critical support levels are lost.
According to CNBC, many market experts predict that Bitcoin could experience an additional value loss of up to 30% if it permanently falls below the $60,000 level.
Matt Maley, chief market analyst at US-based asset management company Miller Tabak, stated that the $60,000 level is of great technical importance. According to Maley, a break below this support could further strengthen the negative sentiment in the market and weaken investor confidence.
The analyst stated that institutional investors on Wall Street continue to show interest in crypto assets, but individual investors, who were a major driver of past bull markets, are now shifting their focus to AI and technology stocks.
22V Research analyst John Roque said that if Bitcoin falls below $60,000 again, the price could drop as low as $40,000. However, Roque noted that the passage of the CLARITY Act, currently under consideration in the US Congress, could alleviate long-standing regulatory uncertainty in the crypto sector.
According to the analyst, this regulatory change could pave the way for institutional investors to re-enter the cryptocurrency market strongly. Such a development is considered to have a supportive effect on the Bitcoin price in the medium to long term.
Experts emphasize that in the short term, macroeconomic developments, interest rate policies, and investor psychology will continue to be decisive in determining the direction of Bitcoin, while noting that the $60,000 level is one of the most critical technical thresholds that markets will closely monitor in the coming period.
*This is not investment advice.
