Crypto analyst Jason Pizzino is predicting a potential Bitcoin crash. He shared his bearish outlook with his YouTube followers, citing several concerning market trends.
Falling Interest and Volume
Pizzino points to declining Google search interest in Bitcoin and crypto as a bearish signal. He notes that search volume is significantly down, indicating less public interest in the market. He also highlights a decrease in daily cryptocurrency exchange volume, suggesting less trading activity. While the volume hasn’t plummeted to previous lows, it’s far from its recent highs, showing a weakening trend.
Bitcoin’s Price Point: A Key Indicator
According to Pizzino, Bitcoin needs to break above $103,000 and sustain that level to reverse the current bearish momentum. He’s looking for consistent daily closes above this price point, even if there are intraday dips. Currently, Bitcoin is trading below this crucial level.
