📉 Bitcoin faces further decline? Analysts predict a break below key points

Since its historical peak, Bitcoin has fallen by more than 20% and has fallen by more than 3% again in the past seven days. Most of the gains from the previous rebound from the low of $49,000 have been lost. Trading volume has also decreased by 32%, and the market appears to be weaker. Although long-term value is still optimistic, market indicators suggest that there may be a larger correction.

🔍 Analysts predict a fall below $50,000

Markus Thielen, an analyst at 10x Research, pointed out that Bitcoin has fallen below the rising trend line, which usually indicates the possibility of further decline. He believes that Bitcoin's fall below $50,000 is inevitable. Another well-known analyst, Michael Van de Poppe, also believes that Bitcoin may fall to $53,000 or even $49,000, after which the market may usher in a rebound.

💡 Analysts at Glassnode predict that if Bitcoin falls further, $51,000 will become a key support level. This price is not only the average cost of the market, but also an important support point in history. If it can hold at this price, it may provide momentum for a rebound.

🌟 Bitcoin Outlook

Despite the continued decline in prices, some key indexes suggest that a rebound may be imminent. The Crypto Fear and Greed Index shows that market sentiment has fallen to the fear level, which may mean that the bottom is coming. Quinn Thompson of Lekker Capital pointed out that when market sentiment reaches fear, it often indicates the formation of a bottom.

📊 Historical data supports the rebound view

According to data from CoinDesk, when the Crypto Fear and Greed Index fell to 25 in July, Bitcoin climbed from a low of $53,000 to $70,000. In early August, when the index fell to 17, Bitcoin rebounded 32% from a low of $49,000 to $65,000. These data provide historical support for the market rebound.

[Disclaimer] Investment is risky, and this article does not constitute investment advice. Investors should judge the applicability of the information based on their own circumstances and assume their own investment responsibilities. $BTC $BNB #Telegram创始人获保释 #BNBChainMemeCoin #美联储何时降息？