Traders say Bitcoin still due for ‘next leg lower’ targeting $46K BTC price

Bitcoin’s (BTC) failure to close the week above the 200-week exponential moving average (EMA) on Sunday put it at risk of another downward leg over the coming weeks or months. Key takeaways: Bitcoin price signals “structural weakness” with failure to close week above a key trend line. A

Bitcoin remains around $71,000 with fluctuations, mid- to short-term implied volatility drops over 5%, and over 40% of options expire this Friday.

Greeks.live indicates that Bitcoin is maintaining oscillations around $71,000 with implied volatility showing a significant decline; Ethereum's mid-to-short-term implied volatility has also decreased notably. As the quarterly expiration date approaches, $75,000 has become the primary strong resistance level.

Bernstein Calls "Bitcoin Has Bottomed"! Reiterates Year-End Price Target of 150,000: This Is the Weakest Bear Market in History

Wall Street investment bank Bernstein stated that Bitcoin has bottomed out, predicting end-of-year prices will reach $150,000. They believe that unlike past bear markets, this pullback lacks systemic pressure, with institutional demand and financial instruments providing strong support. Analysts pointed out that Bitcoin is preparing for an upward rebound, and looking ahead, institutional demand will be an important factor driving prices.

BTC drops below 70,000 USDT

Gate News bot message: Gate market data shows BTC breaking below 70000 USDT, current price 69996.8 USDT.

Bitcoin may have already bottomed out near $60,000. Here’s why.

Some worry bitcoin BTC$70,639.39 could still see a deeper sell-off, but one key indicator suggests the bottom may already be behind us. That indicator is the 30-day implied volatility, which is an options-based measure of expected price turbulence over four weeks. The widely-tracked 30-day implie