RBC crypto analyst Anatoliy Radchenko has warned that Bitcoin could drop below $70,000 amid ongoing market volatility. In a video released on November 24, Radchenko highlighted the recent crypto market crash, which coincided with a sharp decline in U.S. stock markets, particularly due to concerns over Nvidia's growth prospects. He also pointed to MSCI's proposal to exclude companies with over 50% crypto assets from its indices, potentially leading to a $2.8 billion outflow.
Bitcoin is currently trading near $86,000, down 31% from its October peak of $126,000. Radchenko suggested that a drop below $84,000 could trigger a significant capitulation, potentially pushing Bitcoin to $70,000, a level seen before Trump's 2024 election win. He advised caution in entering the market due to the uncertain downside. Other cryptocurrencies, such as Solana and Ethereum, are also facing challenges, with Radchenko describing them as 'more dead than alive.'
RBC Analyst Warns Bitcoin Could Fall Below $70K Amid Market Turmoil
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