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As Bitcoin (BTC) consolidates around the $104,000 level, analysts are warning of a potential drop to $85,000 by April 2025. Technical indicators suggest that breaking key support levels could lead to deeper losses, leaving investors closely monitoring market trends and critical price levels.
Recent Bitcoin Price Trends
Bitcoin is currently trading at $104,430, following a minor dip from its daily high of $107,006 on January 25, according to CoinGecko. Popular crypto analyst Ansem predicts that BTC may retreat to $85,000 earlier than expected, shifting the timeline from August 2025 to April 2025. This outlook has sparked concern among investors.
Factors Behind Bitcoin’s Decline
Bitcoin’s recent pullback can be attributed to several factors:
- Market Consolidation: BTC appears to be in an accumulation phase, potentially preceding a strong bullish trend.
- Profit-Taking: Short-term investors cashing out gains are putting pressure on the price.
- Macroeconomic Uncertainty: Global economic instability and regulatory developments are influencing market sentiment.
The $85,000 Scenario
Ansem’s analysis highlights the possibility of Bitcoin dropping to $85,000 by April 2025 if it mimics similar price patterns observed in April 2024. A break below the $90,000 level could trigger a sharp decline to this critical support zone, which may present accumulation opportunities for long-term investors. However, a move to this level could also prompt a broader market sell-off.
Key Support and Resistance Levels to Watch
Technical indicators and critical levels suggest the following scenarios for Bitcoin:
- Support at $102,000: Losing this level could accelerate downward momentum.
- Support at $99,100 – $96,700: This range could attract buyers, slowing the decline.
- Critical Level at $92,700: A failure to hold this area could lead to a sharp drop to $85,000.
If BTC maintains support at $102,000, a recovery toward $110,000 could be possible. Breaking this resistance may signal the beginning of a new bullish trend.
Technical Indicators to Monitor
- 30-Day MVRV Ratio: Currently in a risky zone, indicating that profit-taking may continue.
- Volume Trends: A decrease in trading volume could signify weakening support at critical levels.
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