A prominent crypto analyst has issued a stark warning about Bitcoin’s price trajectory, suggesting a potential 60% crash to $49,000 based on concerning volume metrics. This analysis comes amid broader market turbulence that has already pushed Bitcoin below key support levels.
Critical Volume Analysis Points to Major Correction
According to respected analyst Melika Trader’s detailed TradingView analysis, Bitcoin is precariously positioned above critical support zones. The concerning pattern emerges from volume profile data on Binance, showing dangerously low trading activity at current price levels.
Key warning signals include:
- Loss of crucial $83,000 support level
- Breakdown of $75,000 trend line support
- Minimal trading volume above $70,000
- High-volume zone clustering near $30,000
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Silver Lining: Only 20% of Traders at Risk
Despite the bearish outlook, Melika Trader highlights an important nuance: approximately 80% of Bitcoin holders entered positions below $35,000. This suggests most investors remain in profit even if the predicted correction materializes.
CryptoQuant CEO Confirms Bear Market Signals
Supporting this bearish thesis, CryptoQuant’s CEO Ki Young Ju points to concerning metrics in the Realized Cap versus Market Cap relationship. The analysis shows capital inflow failing to drive price appreciation – a classic bear market indicator.
Key Support Levels to Watch
Critical support levels traders should monitor:
- $75,000 – Previous trend line support
- $49,000 – Projected bottom target
- $35,000 – Major accumulation zone
- $30,000 – High-volume support region
FAQ: Bitcoin Price Correction
How long could this bear market last?
According to Ki Young Ju, historical data suggests real market reversals typically require at least six months to complete.
What’s causing the current selling pressure?
Multiple factors contribute, including significant ETF outflows and broader market concerns over potential trade tariffs.
Should investors be concerned?
Long-term holders who entered below $35,000 maintain strong profit margins even with a correction to $49,000.
At press time, Bitcoin trades at $77,000, showing a 7% decline over 24 hours. Traders should maintain strict risk management given the potential for increased volatility.