These Bitcoin price predictions put $40K as the final bottom for BTC

💡 DMK Insight

Bitcoin’s recent bounce to $67,000 might feel like a relief, but the bear market’s grip is still strong. Onchain metrics indicate that the real support level could be around $40,000, which means traders should brace for potential volatility ahead. If Bitcoin fails to hold above $67,000, we could see a rapid descent back toward that $40,000 mark. This scenario could trigger stop-loss orders and further exacerbate selling pressure. Moreover, if Bitcoin dips, it could negatively impact correlated assets like Ethereum, which often follows Bitcoin’s lead. Traders should keep an eye on the daily chart for signs of a reversal or continued weakness, particularly around the $67,000 resistance level. If we see sustained selling pressure, it might be wise to consider short positions or protective strategies. Here’s the thing: while the bounce looks promising, the underlying metrics suggest caution. Watch for any significant volume spikes or changes in onchain activity that could signal a shift in market sentiment.