- Bitcoin has fallen below $100,000 for the first time in months, dropping from its all-time high near $120,000.
- If Bitcoin breaks below the 200-day Simple Moving Average (SMA), it may decline as low as $56,000 according to analyst Ali Martinez.
- Bitcoin faces key support levels around $82,000 and $67,000 if it falls below $96,000.
- Technical forecasts suggest Bitcoin could drop to approximately $78,600 by late 2026 amid current bearish market sentiment.
- Long-term projections indicate a potential rebound with prices possibly reaching $246,000 by 2030.
The cryptocurrency market is experiencing a notable decline as Bitcoin slipped below the $100,000 level in recent months, decreasing significantly from its previous all-time high of about $120,000. This price movement has raised concerns about further declines in the cryptocurrency market.
According to crypto price expert Ali Martinez, during typical bear markets, if Bitcoin breaks below its 200-day Simple Moving Average (SMA)—a technical indicator used to analyze price trends—it often falls below the current realized price, approximately $56,200. He stated, “In bear markets, when Bitcoin $BTC breaks below the 200-day SMA, it usually falls under its realized price, currently at $56,200.” He added that dropping from around $99,000 could push Bitcoin to levels between $66,000 and $88,000. Further support points are identified at $82,045 and $66,900.
According to CoinCodex BTC stats, the price of Bitcoin may continue to be volatile, with a forecasted drop of nearly 21% to around $78,600 by November 11, 2026. The technical indicators reflect a bearish sentiment, and the Fear & Greed Index is at 15, signaling extreme fear in the market. Recent market data shows about 47% of days have recorded gains over the past month, with a price volatility of 3.6%.
Despite these short-term concerns, long-term technical models anticipate a substantial rebound. Bitcoin could see an increase of approximately 147% from current levels, possibly reaching $245,881 by December 11, 2030, as per the same CoinCodex forecasts. The market sentiment remains bearish while the Fear & Greed Index continues to show extreme fear, reflecting ongoing cautious investor behavior.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
Previous Articles:
- Bitcoin Slides 6% as Rate Cut Hopes Fade; Ethereum, XRP Drop Sharply
- Bitcoin Falls Below $97K, Hits 6-Month Low Amid Market Sell-Off
- Judge Allows Elon Musk’s Antitrust Suit vs Apple, OpenAI to Proceed
- Socket warns of malicious Chrome Ethereum wallet extension stealing seeds
- Blue Origin’s New Glenn Launches NASA Mars Satellites, Booster Lands
