Introduction
Bitcoin’s price is at an important level. If it doesn’t stay above $95,000, experts think it could drop to $88,000. In the past day, Bitcoin fell 6%, going below $96,000. This drop caused the entire crypto market to lose value, with an 8.4% decline.
Why Bitcoin’s Price Might Drop
Analyst Skew believes Bitcoin’s price could go as low as $88,000 if it dips below $95,000. There is some good news, though. Buyers seem ready to step in if the price falls to $88,000. Data from Binance, a large crypto exchange, shows there are many people waiting to buy Bitcoin at this lower level.
However, selling is still high. Reports show that Binance’s trading numbers hit a low point recently. This happened when bad economic news made investors more cautious about risky assets like BTC.
Experts Share Their Predictions
Other experts agree with Skew. Analyst Johnny thinks BTC could drop into the $88,000 range soon. Another analyst, Rekt Capital, says BTC is now trading between $91,000 and $101,165. If the price falls further, $91,000 will be the next important level to watch.
I think a move like this over the next 2-3 weeks going into the inauguration is highly probable pic.twitter.com/cUVnbzDOXq
— Johnny (@CryptoGodJohn) January 8, 2025
Big investors are also being more careful. On Jan. 7, the amount of money going into BTC dropped to $52.9 million. That’s a big drop compared to nearly $1 billion the day before.
Some Good News for Bitcoin
Even though many experts are worried, some data shows hope for BTC. Reports from IntoTheBlock say more people are moving their BTC from exchanges to personal wallets. This means they want to hold onto it for a long time instead of selling it. When fewer people sell, it can help stabilize the price.
Another piece of good news comes from the Chaikin Money Flow index. This tool shows that BTC still has strong buying activity. It suggests there is enough interest to keep BTC’s price from falling too much.
Why Investors Are Still Confident In Bitcoin
One expert, Ki Young Ju, says that BTC’s demand is still high. This means many people believe in its future. BTC is a unique digital asset, and even when prices drop, it attracts long-term investors who trust it will recover.
Apparent demand for #Bitcoin remains very high. pic.twitter.com/3QbFyi1csP
— Ki Young Ju (@ki_young_ju) January 7, 2025
VR Soldier Thought
Bitcoin is at a tricky point. If it stays above $95,000, it could bounce back. But if it falls below, it might go as low as $88,000. For now, investors should keep a close eye on these numbers. Strong buying interest could help BTC recover, but the market remains uncertain.
