Bitcoin is continuing on a downward path, reaching critical support at $100,200. Should this level give way, predictions suggest Bitcoin could slip to between $98,400 and $95,000. Altcoins, meanwhile, are facing even steeper declines. What do market experts predict for these cryptos?
Where Are Bitcoin and Altcoins Heading?
Analysts anxiously eye Bitcoin’s weekly movements, with many cryptos losing the crucial 50-day moving average. If this downtrend continues without recovery, a shift toward the 200-day MA is anticipated. Cryptocurrency expert Scott Melker has outlined specific levels for major cryptos if this bearish trend persists.
BTC could face a new low near $55,000 in this scenario. Solana has fallen through its 50-day MA and is approaching $101. Similarly, XRP might hit the 200-day MA at $1.03, having also lost its short-term average. For Ethereum, a breakdown hasn’t occurred yet, but if it does, a drop to $2,440 might be on the table. Support from Bitcoin is crucial to help altcoins emerge from these declines.
Are Significant Rebounds on the Horizon?
Despite current market apprehension, long-term prospects suggest potential rebounds following declines. Martinez, a market commentator, predicts a quick turnaround for Bitcoin, hoping for levels between $106,500 and $112,000. Such a move would introduce a short squeeze, shaking up market dynamics.
Psycho, another market analyst, shared further insights and historical performance as a reference.
“Look at this to show how absurd things might get in 2025. ETH dropped 47% in 75 days, then gained 92%. The current drop is just 32% from the peak. Repeating 2024’s situation could push ETH to $2,600. Remarkably, many major declines usually recover to reach new highs.”
In analyzing these cryptos, it is crucial to note:
- Bitcoin could move to the mid-$90,000s if it falls past $100,200.
- Solana aims for $101 now that its 50-day MA is breached.
- XRP is testing its strength at a 200-day MA of $1.03.
- Ethereum holders should watch the $2,440 level closely if trends shift downward.
Some remain hopeful about recovery, as history shows potential for rebounds. A counterpoint was provided by one user, highlighting the significance of the crypto cycle.
“The notable difference between now and then is the 4-year cycle: the dip-to-peak cycle usually spans 1,065 days, potentially extending by +-1,080 days. This precisely aligns with the peak of 126,000 BTC on October 12.”
As analysts continue to debate the path forward, the upcoming week may deliver clearer signals for an anxious market. Large-scale sentiment remains mixed, as traders grapple with the potential for both further losses and recovery.
