Bitcoin (BTC) Price Warning: Analysts Fear Another Plunge to $60K

Bitcoin (BTC) failed at $76,000 last week and was rejected again near $72,000 a few days later. The subsequent Friday correction pushed BTC to a four-week low around $65,500, and while it has bounced to above $66,000, several analysts on X say BTC is not “out of the woods” and could drop further. Michaël van de Poppe warned that BTC may follow the same consolidation pattern as prior cycles: “hang here for a bit” before sweeping lows lower. He highlighted $60,000 as a key level to watch—his preferred zone to open long positions if BTC revisits that area. However, his bearish scenario is invalidated if BTC rebounds decisively and breaks above $71,000. Another view from MN Fund’s founder and related commentary from CryptoQuant also suggests it is still too early to confirm a sustainable bottom, citing the lack of clear “structural signals” for a medium- to long-term trend shift. Altogether, the near-term focus is levels: BTC could test the $62K area, while Merlijn The Trader pointed to BTC’s “DCA Zone” support. He noted historical drawdowns inside that zone produced major rebounds (2015/2019/2023), but a break below now would be unprecedented in the analyst’s framework. Traders are therefore watching BTC support zones around $62K and $60K for bounce confirmation—or further downside if BTC fails and breaks through key support again.