Bitcoin could crash to or below the $60,000 level, according to some financial analysts, as it fails to hold critical price support levels in the ongoing bear market.
Analysts have pointed to potential price drops for Bitcoin amid current market conditions. The cryptocurrency may revisit or fall under $60,000 this year if support levels give way.
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Bitcoin's price has rebounded to around $67,000-$70,000 after hitting $60,000 in early February 2026, but analysts warn of a potential bull trap and ongoing bear market. On-chain data shows whales selling into retail demand, while 77% of corporate Bitcoin holdings are underwater. AI models suggest the bottom may be in, though further declines remain possible.
Bitcoin price has fallen below $78,000, placing immediate focus on whether buyers can defend the $76,000 support zone or face a deeper decline toward $70,000.
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A trading expert has forecasted that Bitcoin could reach $100,000 by early November 2027, based on historical patterns and technical indicators. This outlook comes amid a recent sharp decline in Bitcoin's price, triggered by coordinated military strikes by the United States and Israel on Iran. The cryptocurrency fell as much as 6% following the geopolitical tensions.
Analysts indicate that bitcoin's market bottom could be approaching when valued against gold, potentially as soon as next month. This view contrasts with longer-term dollar-based forecasts extending into late 2026. Factors like global uncertainty and ETF outflows have pressured bitcoin relative to gold's recent gains.