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The Bitcoin price falls again below $86,000. In the daily trend, BTC is currently posting significant losses with -3.16 percent. Bitcoin’s volatility thus continues. Price analyst Benjamin Cowen predicts that a drastic price decrease is necessary before the cryptocurrency can start another rally.
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Bitcoin price falls below $86,000
The Bitcoin price is falling again. In the morning, it reached its low for the day at $85,380, thus falling again below a market value of $86,000. In the daily trend, the cryptocurrency is down 3.16 percent and is trading at $86,790.
- Bitcoin
(BTC) - Price $86,030.00
- Market Cap
$1.74 T
In October, Bitcoin set its valid all-time high above $126,000. In the same month, FED President Jerome Powell shocked the crypto market by expressing doubts about a continuation of US key interest rate cuts.
As a result, the Bitcoin price fell below the significant $100,000 threshold in November. Since then, bulls and bears have been fighting for supremacy. BTC is thus characterized by strong volatility.
Although the FED lowered key interest rates on December 10, the crypto market remained subdued and could not enforce any significant gains. Currently, losses dominate the entire market – both in the daily and weekly trends.
The crypto market lost 2.86 percent of its value over the last 24 hours, thus falling to a market capitalization of 2.96 trillion US dollars.
According to the CMC Fear & Greed Index, the sentiment of crypto investors is currently declining. Just yesterday, the index rated the sentiment with 24 out of 100 points. At the time of going to press, the sentiment has fallen by two points to 22. The market does not currently seem ready for a recovery.
How far will BTC fall?
How far will BTC fall? In view of its continuing weakness, an end to the volatility or even a new price rally seems unlikely at first glance. Until recently, price analysts such as Arthur Hayes had maintained a Bitcoin rally towards the end of the year.
Crypto expert Benjamin Cowen stated in a new forecast that Bitcoin could be busy with further corrections in the last two weeks of the year. For the bulls to prevail, BTC must first form a bottom, the analyst believes.
“Presumably, Bitcoin will first break through the previous low before a larger recovery rally occurs,” Cowen wrote.
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The analyst thus points to a price low of around $75,000, which Bitcoin had set in April. To reach this goal, the cryptocurrency would have to fall by more than 13 percent from the current price.
Only then, according to Cowen, can a recovery and thus a renewed breakthrough of the six-figure market value be expected.
Within the framework of the classic Bitcoin cycle, the bull market would end in 2025 and then start into a crypto winter. Experts like Arthur Hayes and Changpeng Zhao, however, prophesy a detachment from the cycle. Instead, political and institutional factors are likely to drive the price in particular, so that a new all-time high could still follow in 2026.
