Bitcoin Turns Bearish — Could Drop Toward $40K; Ether and Presales Gain Attention
Bitcoin has shifted back into bearish territory after peaking earlier this cycle, with price trading near $66,000 and a technical structure of lower highs and lower lows. Immediate support is being watched around $60,000; a decisive break below could open room for deeper corrections with some analysts identifying a possible bottom zone near $40,000. On the upside, reclaiming about $74,000 would be needed to restore short-term bullish momentum. Market volatility and risk-off sentiment are driving capital rotation: traders are examining large-cap altcoins such as Ethereum (ETH), which is trading near $1,950 with support around $1,700 and resistance near $2,100, and scanning presale tokens for entry opportunities. The article highlights Pepe Dollar (a presale token on Ethereum, quoted at $0.007823 in Stage 3 of its presale) as an example of presale projects gaining visibility. The piece is a paid press release and not investment advice.
Bearish
The article reports a clear price downtrend for Bitcoin with lower highs and lower lows and identifies immediate support at $60,000 and a possible deeper bottom at $40,000. Those technical cues — plus elevated volatility and capital rotation into altcoins and presale tokens — point to increased selling pressure and risk-off sentiment, which typically suppresses BTC-led upside in the short term. The mention of Ethereum trading under $2,000 and presale interest indicates diversification of liquidity rather than a return of broad bullish conviction. Historically, similar post-peak corrections (e.g., after 2017 and 2021 cycle highs) saw multi-month consolidations and tests of major support before trend reversals. Short-term impact: elevated downside risk for BTC and correlated large caps, with opportunities in lower-priced altcoins and presales but higher idiosyncratic risk. Long-term impact: if Bitcoin finds support near the identified zones and macro liquidity improves, the medium-to-long-term bullish thesis can remain intact; however, a sustained break below major supports would delay trend recovery and could trigger deeper deleveraging.