Bitcoin’s price has continued its decline, dropping below several key levels in recent days. As of now, Bitcoin is hovering just above $87,000, marking a weekly drop of around 7.7% and a 19.6% decline from its all-time high of over $109,000 recorded earlier this year.
Amid this downturn, various market analysts have taken to social media to weigh in on the possible causes of the dip and what might come next for the flagship cryptocurrency.
Diverging Predictions for Bitcoin’s Next Move
First on the list is crypto analyst Titan of Crypto who recently shared his perspective on X, suggesting that Bitcoin’s monthly close could offer important clues. “As long as BTC holds above the 38.2% Fibonacci retracement, the bull run remains intact,” the analyst noted.
Notably, in traditional and crypto markets alike, a monthly close is considered a significant indicator because it reflects sustained market sentiment over a longer timeframe. A strong monthly close above key techn
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