Аналитики предрекли биткоину падение до $60 000 из-за нарастающей перепроданности Translation: Analysts predict Bitcoin to drop to $60,000 due to increasing oversold conditions.

The price of Bitcoin on the weekly chart has fallen below the 100-week exponential moving average (WEMA) following a dip below the $85,000 level. Analyst Ted Pillows noted that similar signals in the past preceded significant declines.

According to his estimates, the asset’s value could drop to the 200-WEMA, which is around $68,400.

At the time of writing, Bitcoin is trading at approximately $76,100, having slightly rebounded from a low of $73,000.

Over the past 24 hours, the asset’s price has decreased by 2.9%, and it has lost 14.8% over the week.

A market expert known as Quinten described the current cycle as the «most disappointing» in the history of digital gold.

As illustrated in the chart, Bitcoin’s price predominantly increased after the halvings of 2012, 2016, and 2020. Since April 2024, the trend has been reversed.

Additionally, the analyst pointed out a record level of overselling for the leading cryptocurrency, with values sinking below levels seen during the COVID-19 market crash.

Some believe that Bitcoin may face an even deeper correction in the coming days.

An expert using the moniker BitcoinHabebe labeled the decline of Bitcoin towards the target level of the «head and shoulders» pattern at $60,000 as «expected,» citing various macroeconomic factors.

Another analyst known as 0xLanister forecasted an even steeper downturn, expressing that the developing chart pattern depicts an «extremely concerning situation.»

«The price of Bitcoin could drop to $40,000,» he remarked.

Previously, an analyst known as Brett indicated a potential correction to that level.

The QCP firm linked the recent recovery of Bitcoin to the alleviation of the threat of a U.S. government shutdown. The House of Representatives narrowly approved a funding package of $1.2 trillion.

While the pressures associated with a stoppage have eased, they emphasized that this is only temporary. Funding for the Department of Homeland Security has been extended only until February 13, creating a potential «trap» with a new deadline on the horizon.

Tensions surrounding the Federal Reserve have also increased. President Donald Trump’s nomination of Kevin Warsh to lead the Fed has raised concerns regarding possible shifts in the regulator’s monetary policy.

If investors begin to anticipate a more aggressive interest rate reduction cycle in the latter half of the year, it may provide limited support to risk assets and exert pressure on the dollar.

However, focus will primarily shift to the Fed’s balance sheet policy. Warsh is known for his advocacy of quantitative tightening.

«Warsh has indicated a preference for a quicker reduction of the balance sheet, which directly impacts the repo market. A troubling reminder: when reserves become scarce in ‘wrong’ places, stress can manifest suddenly,» analysts warned.

The options market reflects a general sense of caution. Key indicators suggest investors are preparing for increased volatility in the near term.

From a technical standpoint, the $75,000 level is a key psychological and technical threshold for Bitcoin, according to QCP.

If the price can stay above this level, and related measures (such as funding rates in the futures markets) stabilize, it could create conditions for position recovery and be interpreted as a signal for a measured increase in risk.

«If this level is breached, investor sentiment may quickly turn defensive,» experts concluded.

Lastly, Bitwise’s Chief Investment Officer Matt Hougan stated that the current phase of decline in the market is closer to its end than to its beginning.