The recent Bitcoin crash below $66,000 has shocked the market, resulting in millions of dollars in liquidations. Analysts warn that the worst may not be over yet.
Analyst Predicts Further Decline
Crypto analyst Ali Martinez predicts Bitcoin could fall another 20% to $54,930. This is because Bitcoin has broken below a key support level at $67,890.
Declining Interest
Interest in Bitcoin has dropped significantly this week. Trading volume has plummeted by 43.5%, indicating investors are hesitant to take positions in the uncertain market.
Fear Growing
The Crypto Fear & Greed Index has fallen to 60, indicating growing fear in the market. This is a significant shift from May’s extreme greed score of 76.
Current Situation
At the time of writing, Bitcoin is trading at $65,667, up 0.77% in the last day. However, analysts believe the correction may continue.
