Bitcoin Aiming for $72k: 5 Reasons Bears Are Dominating

Bitcoin kicked off December with a brutal drop, completely erasing the gains we had all week in just a few hours this morning. Honestly, if you’ve been following the bearish indicators, this was pretty predictable. Here’s 5 solid reasons why we might be heading lower: 1. Bull-Bear Index Goes Bearish The index plummeted from overheated territory (around 80) right down to 20. This shows that key on-chain momentum like money flow and network activity has taken a hit. Watch out for any pumps; they’re likely just classic bull traps, not the start of a new rally. 2. Critical Support at $100k Lost If you look at the URPD (Realized Price Distribution), we broke the medium-term holder support line at $100k $101k. Analysts like Julio Moreno have highlighted this: if we lose the $100k level, the next major on-chain support is much lower at around $72k $74k. There’s a huge volume gap in between, basically an "air pocket" for the price to drop through. 3. Weak Demand in the Spot Market If you check the weekly chart on Cryptomus, the volume on the recent "growth" candle was really low. It’s a clear sign of a "dead cat bounce." On the flip side, the downward movements are backed by high volume, indicating the real market direction. Real money is selling off. 4. Miner Selling Pressure Miner to Exchange Flow data shows BTC consistently flowing onto exchanges. Miners are offloading their holdings, creating persistent sell walls that buyers just can’t break through right now. 5. Lack of Liquidity The bid side of the order book has really thinned out. The market feels fragile, which explains how easily the price dropped this morning. There’s just no depth to stop the freefall. Outlook:

This is very possible but there will first be some support and not what will just happen just like that, bitcoin may first try to form a double bottom, have resistance at $80000 or at some prices a little below 80000. Another resistance will be around $75000 which may be very strong. If that support is broken, that means we are now in a bear market. Although this is already looking like a bear market because most people now are bears.

Oops thank you for pooping up with this thread, i have not checked  the price of Bitcoin in the last 24 hours and for that reasons this thread was a headline that alart me to check the price and i saw that bitcoin price is at $86K+ which is a lot lower than what it was on Friday and Saturday of last week, between we have always expected volatility in bitcoin market so we cant be surprised at the current market downturns.

I don't know, rather than believing in technical analysis, I think there are events in the real world that we cannot predict and that affect prices much more than the lines drawn on a chart. Just to speculate, after being bullish all year, I have now turned bearish. Let's see if I am a contrarian indicator.

Great analysis. It's time to short BTC and start waiting for the inevitable price drop(but bear in mind that Bitcoin is capable of surprises). The "Trump pump" has already been consumed. There are no bullish news about BTC. The levels of excitement and greed on the markets are dropping. Even the Federal Reserve cutting the interest rates might help the price to stay for a while at the 80-90K USD range, but the bears will eventually take over the market. The long term BTC investors would have to prepare for a bloodbath next year and keep HODLing and accumulating for the long run. The crypto day traders will start shorting and selling BTC like there's no tomorrow.

Your explanation agrees with my expectations too which is Bitcoin finding support around the current region of $80,000 but when broken will see price as low as $72,000. The time this will happen is what remains unknown and there is also no assurance that it will happen because Bitcoin can just decide to reverse from the current level and approach a new price regime and never to test that $80,000 region again. We have seen such behavior in the past so it it could be repeated now.

The only event that matters to Bitcoin is the halving.  No matter how many analysts on TV or social media try to convince you they have some special angle, they don't.  The four year cycle topped out and the price peaked at $126K.  Nothing else matters and it never did... That being said, now is a bad time to turn bearish.  Most of the pain has already been felt.  Sure, we may dip a bit lower for a year, but the risk reward is quickly turning back to favor the bulls. I turned bearish when we passed $115K and everyone else was saying to sell a kidney and buy more.  I'll turn bullish when we drop below $60K.  For now, I'm a strong HOLD.  People missed their chance to sell the top.  The next move is accumulating the bottom.

This is the kind of analysis many people in the crypto market don’t like but really need. The signs were already there with momentum dropping, bids drying up and miners quietly offloading. When those things line up, the market usually isn’t joking. To be honest, a drop into the $70k range won’t surprise me at all. But it still doesn’t change Bitcoin’s long-term path. We’ve seen harsher dips in past cycles and still pushed to new highs. The key now is staying calm, managing risk and not mistaking every small green candle for a reversal.

Glad to see these charts and speculations, nice job OP. I am more convinced in #2, where the major we support we had multiple times in the past was already broken. The $100,000 support level was significant, and psychologically too. What I also noticed when we dropped below $100,000. It was so fast we dropped to $80,000 level, especially right now. I'll wait for Bitcoin to reclaim $100,000 before I can say I am bullish again; it depends.

I also predicted, with the help of my TA, that BTC would move into a downtrend. This was around early November, when BTC retested ~$107k, triggering a correction. The market saw it as another significant support level and expected it to go to a new high because of that reclaim in the region. Upon checking the stablecoin dominance chart, it shows that it has reclaimed support there as well. It's quite expected to see it, and it seems like we're still headed to a new low. Maybe it's time to set one out when waiting to get to that new low to go bullish again.

Anyone who want to experience a specific odd in the bitcoin market before they could understand the risk and unpredictability of volatilities is either an ignorant to accept the fact because because you invest on bitcoin, you should had been aware that the market is uncertainty or that the investor is still a beginner who has not understood the market. So coming to agree at this very time the market took us off from our expectations based on historical events which we expected to still be in the bull and now seeing it the other way is probably late to understand the inevitable of the market. Don't you think if only bitcoin price has to be manipulated by news, by now bitcoin price would had skyrocketed before with how much speculations had been going on that bitcoin price will rise or pump. Just so sudden how we have also been s000 we thought of seeing in this market cycle and with how those of those economy analysts had also spread in the air. Those were news and yet did not have effect to drive bitcoin Price up to reach the goal. Perhaps market direct may lean on buying and selling power while news may be a basic to drive investors sentiments.

$72,000 could happen if the situation remains unchanged. But hopefully that will not happen. At least, not going down below $80k. The price is at $91k after reaching $87k and the green candle is back on the market. But anything can happen as the market remains unpredictable. We don't know if the price will still increase or decrease further. But we can hope the price doesn't drop significantly, because that can make people sad. Nothing we can do but we can hope that we don't miss the good moment to buy back Bitcoin if the price is down. Just prepare your funds to buy back and wait for the right time to buy.

I still remember the discussion with JayJuanGee and it made me wake up from thoughts that made me feel nauseous about what I was thinking. Bitcoin cannot be entered into certain conditions or circumstances and schedules. There is nothing prohibited about speculating and predicting and anyone can do it. A theory that has not changed and is still the theory closest to crypto market conditions is the law of supply and demand. Indirectly, it was denied that many chose to decide that this was a bearish entry and the market moved upwards to form a straight green line. Indeed, this happened in a matter of hours and from this it shows that the long term is best. Historically, in long numbers, Bitcoin has always been good.

Everyone is hoping that Bitcoin will hit another ATH but are there possibilities to achieve that? I didn't expect that the price would increase this month since there were a few indications that we have entered the bear market. If the demand for Bitcoin keeps increasing, the price will keep increasing. I will advise short-term traders to be cautious because anything can happen. For long-term holders, there is still time to keep accumulating. Those who missed taking a profit can do so now that the price has increased a little, because nobody knows the next move.

This is evident in the fact that a day after this post, the price hit 90 thousand and 93 the next day. Everyone knows technical analysis is not always accurate because there are a lot of factors that cannot be calculated. The last time Bitcoin got to 90 thousand, I had a feeling it would drop again because people who have waited will rush to take profit, and it happened. I might actually be . We will watch out to see your future speculations.

Bitcoin rose to $93k today and I don't know how high it will go, but I think $72k or a bear market is inevitable. Sooner or later, it was going to happen because the bull market has lasted too long and we cannot expect it to last year after year. So instead of being scared and disappointed if prices continue to fall, why don't we prepare for that situation? Honestly, I don't see any reason to be sad if bitcoin price drops and even drops to $50k. Isn't that an opportunity for us to earn x10, x20 profits in the future? We can hardly make x10, x20 profit when buying bitcoin at price above 100k. But we can do that if we can buy bitcoin for under $50k, $40k or $30k. So I won't be sad if bitcoin price drops further.

You were right! Bitcoin formed a double bottom and immediately bounced sharply above $92K Market events are inherently unpredictable. But what's even more unpredictable is the reaction of crypto investors to those events. For example, I read this morning that the strong Bitcoin rally is linked to Vanguard's decision to open up crypto access to its clients. And apparently, they all rushed at once to buy various crypto ETF shares.

If you see current Bitcoin price today have raised $93k more you will modify about your predicting possibility about bitcoin price dump to $72k, I know many people have their own way when predicting bitcoin get more dump in the future after high significant last two weeks ago and today bitcoin too close raise $100k. Respect with your analyst but dump to $72k I think very difficult after bitcoin success recovering above $90k and less possibility dump under $80k. If you wait for bitcoin dump to $72k maybe you need more longer time or its almost impossible comparison how strong bitcoin when recovering just take one day after dump $85k and without 24 hours have raised to $93k. I am fully believe bitcoin will not dump under $72k how latest correction only drop to $80k but without need one month for recovering back.

That's investors sentiment for you. Fundamental analysis is what controls the price of bitcoin currently, making technical analysis somehow useless. Investors don't want to run at loss, they want to always make the right move to prevent them from losses. This is why any positive news about crypto from the US is a pump for bitcoin price and vice versa. I have already accepted the market fate that we are in the bear market just like what I told my friend yesterday. However, if bitcoin price pumps without creating a new ATH till a dip in price of 50%, it means that the bear has taken over the market since October 10th.

On the other hand, this is the type of thinking that gets you stuck within a set of rules that you've set for yourself. I can already see that people who claim we'd have to go to 70k again are looking at the chart seeing that last time we went below 100k we ended at 70k therefore this must happen again, but it's a baseless claim and I can give you an example. In 2021 when we dropped from 60k we went to 30, therefore people thought that next time we go below 60 we will again go to 30, but no. Instead we almost instantly passed 30k and went to 25k. Previous supports don't have to be future supports and previous resistances don't have to be future resistances. What these analysts are doing is shooting blind at the target hoping they'll hit it.   Big money is not spot money, but calling it real and unreal money makes you look dumb. Both spot and OTC money is real, but big buying takes place OTC. I wouldn't go as far as to call any money not real. Even money created through rehypothecation is real money. If you want to see big money check institutional inflows. Check ETF volumes. What is being done on the spot market is only to influence the price to make the big OTC deals go down at convenient price levels. It takes much less money to manipulate the spot market which is why they are doing it.