Bitcoin has lost 11% this week, dropping to $82,340. This has caused concern among investors, yet some analysts are confident about an upcoming rebound.
Current State of the Crypto Market
Currently, Bitcoin is at a critical level. According to Crypto Banter, there are two possible scenarios. In the first case, Bitcoin might drop to $79,000 - $81,000 before recovering to $90,000 and beyond, weeding out panic sellers. In the second case, Bitcoin could quickly recover, leaving the $82,000 mark and aiming for $90,000 and even $100,000.
Bitcoin's Prospects
Crypto Banter believes that liquidations could significantly influence Bitcoin's next move. If it reaches $90,000, this could trigger $3 billion in short liquidations, pushing prices even higher. At $95,000, liquidations might hit $6 billion, further fueling growth.
Altcoins: A New Wave of Interest
As Bitcoin's dominance wanes, interest in altcoins has risen. Ethereum has bounced back and is aiming for $2500, while Solana is holding strong at $130 with expectations to rise to $160. If momentum continues, Solana could hit $200 and reach new price highs.
The crypto market is at a turning point. A recovery in Bitcoin could positively impact the entire crypto market. Otherwise, panic and uncertainty will persist in the market.
