The oft-cited Wyckoff pattern suggests that Bitcoin price could be headed toward $86,000 next, especially if BTC fails to hold $94,000, which is the average cost basis of 6 to 12-month Bitcoin holders.
Bitcoin’s recent weakness mirrors broader economic uncertainty, as unreliable economic data and shifting expectations on US growth and policy cloud investor confidence.
Ether’s struggle to reclaim $4,000 is the result of weakening onchain activity, a decline in fees and competition from Solana, BNB Chain and upcoming altcoin ETFs.
Bitcoin is turning into a savings-focused asset while Ethereum is becoming a high-velocity utility engine, a split that some analysts say is an emerging structural risk.
Bitcoin data forecast the drop to $98,000 as key supports failed to generate hefty buying from bulls, and futures traders saw their long positions liquidated.
Bitcoin and crypto market sentiment hit seven-month lows, with the BTC price still above $100,000, while gold and silver received a post-shutdown boost.