Short-term dips expected, with possible price increase if liquidity clears.
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ContentsHow Low Could Bitcoin Go?Bitcoin (BTC)
Bitcoin is currently facing a tough battle to reclaim the $88,000 mark. Compounding the situation, an address to the nation by Trump is scheduled for tomorrow, during which he is expected to discuss the Federal Reserve Chairmanship with Waller. The crypto oracle maintains its bearish outlook, risking significant losses for altcoins if the prediction proves accurate.
How Low Could Bitcoin Go?
The upcoming Supreme Court decision, MSCI’s classification of crypto reserve companies as funds, and a possible interest rate hike in Japan are among the major negative developments expected for cryptocurrencies within a month. Japan’s decision is expected on Friday, and the U.S. inflation report will also be released this week. These factors have contributed to weakened risk appetite in the crypto market. As predicted, Bitcoin has broken support at $88,000. Roman Trading anticipated a weak bounce from the lows and was right, with the crypto oracle reiterating its target of $76,000.
“Bull waves have formed, and volume on the decline was low. I perfectly predicted this point of bounce. However, it’s just a bounce, and I don’t expect it to lead to anything serious. In the near future, Bitcoin is expected to reach $76,000.”
Bitcoin (BTC)
Mark Cullen anticipates that the short liquidity concentrated above $95,000 will soon be cleared. This could potentially result in an increase of approximately $8,000 from that region. However, there might be a minor clearance at $83,000 beforehand. If his scenario unfolds as expected, the larger short liquidity could push the spot price above $98,000.
From a technical analysis perspective, Mark’s predictions remain consistent with previous expectations.
“With yesterday’s sell-off, BTC reached the Fib golden zone of the upward movement. I’d like to see a bounce here and a higher low, but given the ongoing pain, the lows at the end of November will likely be revisited.”
U.S. inflation figures will be released Thursday, followed by Japan’s interest rate decision on Friday. These events present considerable pressures on cryptocurrencies in the coming hours, confirming Mark’s short-term dip expectations.
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