Bitcoin Could Fall Into the $40,000s Before Bottoming: Bitfinex Analysts
📉 Analysts from Bitfinex predict that Bitcoin (BTC) may decline further into the $40,000s by year-end, as investor exits from the spot market increase.
🔻 Historical trends indicate BTC typically drops at least 70% from its all-time highs before bottoming out, suggesting a potential decline of 68% from its current price near $60,000.
💔 Weak spot demand, characterized by short-term holder selling and ETF outflows, is contributing to Bitcoin's ongoing downtrend, with a key support level now at $53,400.
📉 Analysts from Bitfinex predict that Bitcoin (BTC) may decline further into the $40,000s by year-end, as investor exits from the spot market increase.
🔻 Historical trends indicate BTC typically drops at least 70% from its all-time highs before bottoming out, suggesting a potential decline of 68% from its current price near $60,000.
💔 Weak spot demand, characterized by short-term holder selling and ETF outflows, is contributing to Bitcoin's ongoing downtrend, with a key support level now at $53,400.