NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Tether Targets $500 Billion Valuation In New Equity Offering Amid US Expansion Plans

These 4 Signs Show Bitcoin Is Likely to See a “Big” Move Down: Analyst

Nick Chong
Nick Chong
1 year ago
3 mins read
bitcoin price

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Bitcoin has already seen a strong reversal from the highs seen earlier this week.

As of the time of this article’s writing, the flagship cryptocurrency trades at $9,200. This comes after it fell as low as $8,950 during a flash sell-off on Wednesday, with the price being depressed by a leveraged-long liquidation event.

Unfortunately for bulls, it could be just the start of a larger move lower.

Related Reading: Buying BTC at $8k or $9k Won’t Matter in 2 Years: Fund Manager Explains

Bitcoin Could See a Strong Correction

Analyst Cole Garner is long-term bullish on Bitcoin, but he sees a number of reasons why BTC’s next “big” move is likely down. They are as follows:

  • Glassnode reports that BTC miners have withdrawn the largest number of coins from their wallets to exchanges in over a year.
  • Institutions are still bearish on cryptocurrencies, at least according to CME data.
  • The Bitfinex “buy wall” around $8,500-9,000 is being eroded. That means there is a lower likelihood of BTC bouncing when it reaches that level.
  • Bitcoin’s order book delta has been “skewed massively to the sell side for almost six weeks.”

Garner isn’t the only analyst currently expecting a correction.

As reported by NewsBTC previously, a trader noted that the entire crypto market is primed to see a 25% drop. Bitcoin dropping 25% would imply a price of ~$7,000 and Ethereum doing the same would result in a move to approximately $175.

He shared the chart below to illustrate this sentiment. It shows that the crypto market failed to break out of an RSI downtrend and is struggling to maintain support levels.

Image

Bitcoin price chart shared by pseudonymous crypto trader Dave the Wave (@Davthewave on Twitter). Charts from TradingView.com

The S&P 500 Will Decide BTC’s Fate

While there are these signs, arguably what decides Bitcoin’s fate moving forward is the directionality of the S&P 500. After all, analysts at JP Morgan, Goldman Sachs, and in the cryptocurrency space have all observed correlations between the two over recent months.

Bears will be pleased to hear that analysts are starting to expect a retracement in stocks. (Notably, the retail audience is anything but bearish, buying everything they can. Retail investors are even going big into bankrupt companies like Hertz.)

Jeremy Grantham is a stock trader that predicted some of the biggest macro declines in this asset class over the past few decades.

Grantham now says that the ongoing rally in American equities is one without “precedence” and one that is “crazy.” He even went as far as to say that a “bubble” is forming.

"This is really the real McCoy," says legendary investor Jeremy Grantham on whether the recent rally is a sign of a bubble to come. "This is crazy stuff." pic.twitter.com/XetUBqqPBk

— CNBC's Closing Bell (@CNBCClosingBell) June 17, 2020

Should the bubble of American equities collapse, so too should Bitcoin.

Related Reading: Crypto Tidbits: BTC Holds $9k, ETH DeFi Gains Traction, Trump Talked BTC in 2018
Featured Image from Shutterstock
Price tags: xbtusd, btcusd, btcusdt
Charts from TradingView.com
These 4 Signs Show BTC Is Likely to See a “Big” Move Down
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

dogecoin

Dogecoin pada, MaxiDoge raste – naslednji 1000x dragulj

Dolga leta se je zamisel o ETF-ju za meme kovanec zdela povsem nerealna. Vendar se je vse spremenilo prejšnji četrtek,...

tanjapotocnik 3 hours ago
dogecoin market price

Πρόβλεψη τιμής Dogecoin καθώς το νέο ETF DOJE ξεπερνά τα 21 εκατ. USD AUM

Το Dogecoin επιστρέφει στο προσκήνιο με ανάμεικτα μηνύματα από την αγορά, καθώς η τιμή του διολισθαίνει κάτω από τεχνικά επίπεδα...

Ιωάννης Ριζόπουλος 3 hours ago
Bitcoin

Bitcoin strmoglavil, HYPER na 17 mio$

Napoved cene Bitcoina je ponovno v središču pozornosti po strmem padcu za 2,91 % v zadnjih 24 urah. BTC je...

tanjapotocnik 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Cloudflare’s mega crypto revolutie - de eerste AI stablecoin officieel gemaakt

Cloudflare’s mega crypto revolutie – de eerste AI stablecoin officieel gemaakt

Lars Diederiksen 1 hour ago
Bitcoin Price Recovery Hopes Rise

Pundit Says Bitcoin Is Still In A Bull Market Despite Price Crash; Here’s Why

Sandra White 2 hours ago
pump fun

Q4 najboljši za Pump Fun: Konec za PUMP in Solano?

tanjapotocnik 3 hours ago

Premium Sponsors

Press Releases

  • Táto alternatíva Shiba Inu (SHIB) v nasledujúcich týždňoch prekoná očakávania a vyskočí z $0,00000012 na $15

    Táto alternatíva Shiba Inu (SHIB) v nasledujúcich...

    22 minutes ago
  • Ta alternatywa dla Shiba Inu (SHIB) może w nadchodzących tygodniach wzrosnąć z 0,03 zł do 6 000 zł

    Ta alternatywa dla Shiba Inu (SHIB) może w nadchodzących...

    1 hour ago
  • イーサリアム...

    3 hours ago
  • 重要な経済指標を前に、市場は警戒感を強める

    ビットコイン 今後...

    3 hours ago
  • パイネットワーク...

    3 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.