Bitcoin is showing negative dynamics again, falling below $118,000. Analysts are discussing potential upcoming movements and market expectations.
Bitcoin Drop and Liquidation of Positions
On Thursday, Bitcoin (BTC) witnessed a significant decline, dropping below $118,000. According to coinmarketcap, at the time of writing, Bitcoin was trading at $117,368, which is a 1% decrease in the last 24 hours. This decline occurred following the release of U.S. inflation data that was above expectations, leading to decreased investor confidence and a negative mood in the market.
Consequently, over $1 billion in leveraged positions were liquidated in 24 hours, with more than 218,000 traders incurring losses as BTC fell from $122,000 to an intraday low near $117,000.
Investor and Analyst Predictions
Analysts have presented different forecasts regarding Bitcoin's future movement. Veteran trader Peter Brandt expressed that there is a 30% chance the current bull cycle has already peaked.
>CITE_W_A: "I think there is a 30% chance that BTC has topped for this bull market cycle. Next stop then back to $60k to $70k by Nov 2026, then next bull thrust to $500k," said Brandt.
Conversely, crypto analyst Colin from Colin Talks Crypto proposed a more optimistic view based on cycles observed since 2012, suggesting that the current cycle may peak in December 2025 with a price of around $200,000.
Current Ranges and Possible Movements
Cryptocurrency expert Daan Crypto Trades reports that Bitcoin "loves to hover around" the range of $117,000 to $119,000.
>CITE_W_A: "Bitcoin still just ranging. Liquidity was taken below and then above the range. Currently finding some support on the 4H 200MA and high volume node. The $117K-$119K area seems to be a level which Bitcoin loves to hover around for the time being."
After testing support at $112,000, the cryptocurrency recovered 5%. The bounce is also supported by the 200-period EMA, hinting at potential renewed bullish momentum.
In light of current economic realities, Bitcoin continues to face pressure. Diverse analyst forecasts are shaping expectations for the near future, with traders particularly attentive to changes in price ranges.
