Bitcoin Price Analysis: Analysts Optimistic Despite BTC’s Crash To $95,000
Bitcoin (BTC) crashed below the psychological $100,000 level on Thursday, with the downturn intensifying on Friday as the flagship cryptocurrency fell to an intraday low of $93,951 before settling at $94,503.
The downturn triggered a wave of bearish predictions. However, some analysts are not convinced a deeper decline is on the cards, and that markets could see a recovery next week.
Michael Saylor Denies Strategy Plans To Dump Bitcoin (BTC)
Strategy executive chairman Michael Saylor has denied reports that the company is planning to offload some of its Bitcoin holdings amid a substantial decline in the asset’s price. Saylor took to X to clarify that there was “no truth” to reports claiming Strategy has reduced its overall holdings by approximately 47,000 BTC, worth nearly $4.6 billion. Saylor added that Strategy plans to continue to buy Bitcoin as the price fell almost 5% over 24 hours to a low of $93,951 on Friday. Saylor stated,
“I think the volatility comes with the territory. If you’re going to be a Bitcoin investor, you need a four-year time horizon and you need to be prepared to handle the volatility in this market.”
Bitcoin ETFs Record Their Second-Worst Day On Record
Spot Bitcoin ETFs registered $866 million in net outflows on Thursday, making it their second-worst day on record after the $1.14 billion in outflows on February 25. Thursday’s outflows occurred after President Trump signed a government funding bill to keep the government operational until January 30, 2026. A slowdown in ETF demand has caused concern among crypto investors. ETFs were key drivers of Bitcoin’s stunning rally past $125,000. Ki Young Ju, founder and CEO of crypto intelligence platform CryptoQuant, believes Bitcoin’s bull market will remain intact as long as the price does not fall below $94,000.
“Personally, I do not think the bear cycle is confirmed unless we lose that level. I would rather wait than jump to conclusions.”
However, some analysts have argued that the four-year cycle theory is no longer relevant after the introduction of spot Bitcoin ETFs. Bitwise CEO Hunter Horsley stated,
“Since the launch of the Bitcoin ETFs and the new administration, we’ve entered a new market structure. I think there’s a pretty good chance that we’ve been in a bear market for almost 6 months now and are almost through it. The setup for crypto right now has never been stronger.”
Bitcoin (BTC) Price Analysis
Bitcoin (BTC) crashed to a six-month low on Friday, falling to $93,951. However, the weekend has seen a marginal recovery, with the price rising 1.10% on Saturday and settling at $95,544. The flagship cryptocurrency is marginally up during the ongoing session, trading around $95,992.
Analysts believe that prices will not go lower after BTC bounced back after Friday’s low. Crypto analyst YazanXBT believes that the flagship cryptocurrency is gearing up for a move to $145,000 rather than dropping to $92,000 or lower. The analyst highlighted similar moments during the market’s previous bottom, adding that traders were certain prices could fall as low as $10,000. Instead, prices bottomed around $16,000 before staging one of the strongest recoveries on record.
However, one community member argued that BTC has an unfulfilled CME gap at $92,000, noting that historically, BTC tends to fill CME gaps before surging to new highs, suggesting a crash was imminent. However, YazanXBT dismissed the outlook, reiterating that the flagship cryptocurrency will rally rather than crash.
BTC started the previous weekend in positive territory, rising 1.97% on Friday and settling at $103,284. Price action was mixed over the weekend as BTC fell 0.97% on Saturday before rising 2.36% on Sunday and settling at $104,964. Buyers retained control on Monday as the price rose 1.23% and settled at $105,979. Buyers lost momentum on Tuesday as BTC fell nearly 3% and settled at $103,009. Sellers retained control on Wednesday as the flagship cryptocurrency fell 1.33% to $101,639.
Source: TradingView
BTC registered a sharp uptick in volatility and selling pressure on Thursday. As a result, the price fell below $100,000 for the first time since June, dropping to a low of $97,870 before settling at $99,614. Selling pressure intensified on Friday as BTC plunged to a low of $93,951 before settling at $94,503, ultimately dropping over 5%. The price recovered on Saturday, rising over 1% to $95,944. BTC is marginally up during the ongoing session, trading around $96,018.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
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