Bitcoin (BTC) is at risk of falling to $70,000 despite currently trading above $90,000, according to crypto analyst Doctor Profit. The analyst highlights three bearish technical patterns: a large bearish divergence on weekly and monthly charts, a bearish flag formation, and a potential head-and-shoulders pattern. These indicators suggest a deeper correction is possible, even if short-term gains occur.
Doctor Profit notes that significant insider selling since August 2025 and stress in the banking sector contribute to a fragile market environment. While upcoming events like US CPI data and the CLARITY Act vote may influence short-term prices, they are unlikely to alter Bitcoin's broader bearish outlook. Meanwhile, VanEck offers a contrasting long-term view, predicting Bitcoin could reach $2.9 million by 2050 if it becomes a major monetary asset.
Bitcoin Faces Potential Drop to $70K Amid Bearish Patterns
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