Analyst: BTC has technical bearish signals, and the next low may be around 88,000 USD

2025-01-13 23:15:50

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ChainCatcher news, Intouch Capital Markets senior forex analyst Piotr Matys stated that Bitcoin may have now formed what is known as a head and shoulders pattern, indicating a trend shift from bullish to bearish. Matys noted that a drop below the key support level of $91,600 signals "strong technical bearish signals for Bitcoin." Fxpro chief market analyst Alex Kuptsikevich added that if bearish sentiment prevails, the next low for Bitcoin could be around $88,000, with a possibility of a quick rebound from there to around $74,000.

Last year, the debut of the U.S. ETF directly linked to Bitcoin, along with President-elect Trump's outspoken support for the digital asset industry, pushed Bitcoin to an all-time high. However, this optimism has waned in 2025, with some analysts indicating that traders are waiting for certainty after Trump's inauguration on January 20. (Jin Shi)

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