Bitcoin’s latest price plunge, with the asset continuing to be a magnet for intense pressure and market changes, is now taking a toll on BTC. Leading financial organizations such as Stifel have now come up with a bold price prediction for Bitcoin, adding how the asset could drop as low as $38K amid changing US monetary narrative and rising market pressure. What do the technical indicators have to say about Bitcoin? Let’s explore those factors in depth.
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Stifel’s “Stifling” Bitcoin Prediction
Stifel Financial Corp., a leading financial firm, has issued a rather bold price prediction for Bitcoin. In their latest statement, the firm warned of a 42% drop in Bitcoin price, as market pressure coupled with the right monetary policy continues to break markets as of late. Stifel warned of a striking Bitcoin fall, stating how increased ETF outflows and the liquidity crunch that the crypto market is experiencing may ultimately end up pushing Bitcoin to explore new lows.
Summarized by Walter Bloomberg on X, Stifel cited strict US monetary changes and a slowdown in US regulatory changes as other leading reasons pushing Bitcoin’s price off the pace.
“Stifel says Bitcoin could fall to $38,000 based on past cycles, citing tighter Fed policy, slowing U.S. crypto regulation, shrinking liquidity, and heavy ETF outflows. Sentiment has sunk into “extreme fear,” showing waning institutional and retail interest.”
Bitcoin’s Future: Another Opinion to Take Note Of
Per Bitcoin Habebe, another notable BTC analyst, Bitcoin is indeed on track to explore a new low price threshold. Habebe believes BTC may fall between $68k and $72k before bouncing back eventually to reclaim $100k.
“$BTC will bottom between 68 and 72k, which will mark the end of the wave A correction from its 125k ATH. Wave B will most likely take us from here to 96-103k, which will give us a mini altseason to keep continuing to nail trades on the way up till there. That’s when we will unload, short, & head to new lows for wave C 👍🏼.”
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