Bitcoin bear market not over? Trader sees BTC price ‘real bottom’ at $50K

💡 DMK Insight

Bitcoin’s bearish outlook at $69,048 is raising alarms for traders: here’s why. With predictions of new macro lows echoing the 2022 bear market, traders need to reassess their positions. The sentiment is shifting, and if BTC breaks below key support levels, we could see a cascade effect across the crypto market. Watch for the $65,000 mark—if it fails to hold, expect increased selling pressure. This could also impact altcoins, particularly those closely tied to BTC’s price movements. But here’s the flip side: if BTC manages to hold above $69,000 and shows signs of recovery, it could trigger a short squeeze, leading to a rapid price rebound. Keep an eye on trading volumes and market sentiment indicators; they’ll be crucial in gauging whether this bearish trend has legs or if a reversal is on the horizon.