Is Bitcoin Price Headed Lower? Analysts Debate a Much Deeper Fall

Bitcoin recently fell sharply to $73,000, erasing 41% from its October 2025 high, intensifying the debate over whether the market is bottoming or entering a deeper correction. This sell-off coincided with rising anxiety in traditional markets due to geopolitical risks and AI-driven tech concerns, causing capital to flow into safe havens like gold and silver, which outperformed Bitcoin. Analysts are split: some, like Benjamin Cowen, see the current price action as critical for avoiding a prolonged midterm slump, while others, like Nehal, view it as a classic bull trap, suggesting a potential 72% drawdown to $35,000 based on historical cycles. Conversely, on-chain data from CryptOpus suggests Bitcoin has entered a "bottom discovery" phase, evidenced by a 40% reduction in profitable supply. Technically, key levels like $70,000 are under scrutiny, with a break below potentially leading to targets near $55,700. Other analysts, such as Michaël van de Poppe, remain bullish, believing the downturn is ending, while David Battaglia points to significant short density below $85,000 as a potential bottom indicator.

(Source：BeInCrypto)