Bold 2025 Bitcoin targets, from $170K to $2M, missed the mark. Here’s how Wall Street and crypto’s biggest names got their forecasts wrong. | Credit: Derek Fenech
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Key Takeaways
Bitcoin has plunged below $87,000 in a breakdown that blindsided the market.
More than $640 million in leveraged positions were wiped out within 24 hours.
With momentum weakening and macro pressure rising, is a deeper crash ahead?
Bitcoin’s (BTC) price has slid under $87,00, and this time, it came without warning.
The market felt the shock instantly, erasing $640 million from leveraged bets within the last 24 hours.
However, the lingering question persists. Is a bigger Bitcoin price collapse waiting in the shadows?
However, over the past ten days, the coin later formed an ascending channel toward $100,000.
This indicated that the coin might have invalidated that bearish outlook. Unfortunately, that did not last as BTC had dropped below $87,000 as of this writing.
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A closer look at the 4-hour chart shows that the recent decline pushed Bitcoin below the lower trendline of its channel, signaling a loss of short-term structural support.
This breakdown suggests that bearish momentum has strengthened, at least on lower timeframes.
The chart also reveals a sharp decline in the Chaikin Money Flow (CMF).
Such a deep negative reading reflects intensifying selling pressure, leading the crypto market to face over $600 million in liquidations.
When CMF weakens this aggressively, it typically becomes difficult for the price to mount a meaningful recovery.
Given this setup, BTC is unlikely to reclaim the upper resistance zone near $91,550.
If selling pressure persists and bulls fail to regain momentum, Bitcoin’s price could slide toward the next underlying support around $82,622.
Analyst Says Cycle Is Not Over
Despite the recent crash, analyst Michaël van de Poppe maintains that the broader crypto cycle is nowhere near finished.
According to him, the latest pullback is more of a temporary shakeout than a cycle-ending collapse.
“I think that this cycle is far from over. No indicator has peaked. No retail interest. No extreme overvaluation, while Gold and other commodities have shown this. Nothing. Just a time-based assumption that BTC has peaked,” van de Poppe opined.
Has Japan Become a Threat to Bitcoin?
According to CCN findings, the BTC price drop appears to be tied to macroeconomic developments emerging from Japan.
The move comes as the USDJPY surges toward the 155 to 160 range, levels that typically pressure the BOJ into adopting a more hawkish stance to stabilize the Yen.
In short, the combination of a weakening Yen, rising inflation, and a suddenly more hawkish BOJ has rattled markets. If left unchanged, Bitcoin’s price may experience an extended decline.
Cowen Gives Warning
In line with this sentiment, Benjamin Cowen suggested that Bitcoin may be echoing its 2019 market structure.
He pointed out that during that period, the ALT/BTC pairs reached the 0.25 level roughly one month after BTC peaked.
While he emphasized that the 0.25 threshold is a necessary benchmark for the onset of altseason, it is not a sufficient condition on its own.
Cowen noted that in 2019, even after ALT/BTC pairs hit 0.25, Bitcoin had already slipped into a bear market, and true altseason didn’t arrive until 1.5 years later.
Furthermore, he implied that even if history rhymes, a quick rotation into altcoins may not follow immediately.
“That led into the final capitulation of ALT/BTC pairs. So good chance same things happens again. QT ends, and then ALT/BTC pairs drop a lot despite people thinking they would rally immediately,” Cowen stated.
BTC Price Analysis: Showdown Ahead
On the daily chart, Bitcoin’s indicators continue to send mixed signals.
To begin with, BTC remains confined within a descending triangle, a pattern that generally reflects sustained downward pressure.
The key horizontal support sits at $84,866. At the same time, the Moving Average Convergence Divergence (MACD) has printed a bullish crossover.
However, this optimism is tempered by the Awesome Oscillator (AO), which remains in negative territory, indicating that bearish momentum has not yet fully dissipated.
These conflicting signals create a pivotal moment for the price of BTC.
If bears break through the support at $84,866, the price could retreat toward $80,577, where the next significant support lies. That would confirm the bearish pressure implied by the AO.
On the other hand, if bulls successfully defend the support and regain control, Bitcoin could push above the triangle’s upper trendline.
A breakout from that structure would open the door for a move toward $91,401. In a highly bullish scenario, especially if volume accelerates, BTC could extend the rally toward $98,097.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
