At midweek in the cryptocurrency markets, Bitcoin fell below the $80,000 threshold, triggering renewed volatility and prompting a fresh wave of sell-offs among major altcoins. Despite these sharp short-term pullbacks, several market analysts remain optimistic about Bitcoin’s overall outlook.
Critical Bitcoin levels and analyst forecasts
Kicking off the week with a swift downturn, Bitcoin’s slide beneath $80,000 caused a bout of panic among investors. According to CryptoAppsy, BTC is currently stabilizing around its 20-day exponential moving average at $79,092, positioning this zone as a key short-term support. Analyst CRG highlighted that while Bitcoin remained below the Ichimoku Cloud during the previous bear market, it is now sustaining levels above the cloud—a sign that the current cycle cannot be directly compared to the last.
Arthur Hayes and other leading figures expect further strength in Bitcoin. Hayes predicts that if Bitcoin surpasses $90,000, traders who have short positions will be forced to cover, accelerating upward momentum and putting the $126,000 target back in focus. He also noted that macro trends such as escalating AI competition between the US and China, and conflict involving Iran, could expand the money supply and boost the crypto ecosystem.
However, not all market participants share this upbeat outlook. The whale investor known as ‘pension-usdt.eth’ has maintained a highly leveraged position of 1,000 BTC—worth $81 million—opened at a Bitcoin price of $67,990. Despite an unrealized loss nearing $13 million, this investor announced on X that they are holding firm in the trade.
Ethereum, BNB and major altcoin performance
Ethereum is facing immediate selling pressure whenever it attempts to climb above its 50-day simple moving average at $2,245. Analysts say the first sign of recovery for ETH would be a decisive close above the $2,465 resistance; this could propel the price toward $3,050. In contrast, a downward move could see ETH sliding to the lower support area at $1,916.
Binance Coin managed to rebound from its 20-day average at $643, testing the critical $687 resistance. If BNB secures closes above this level, it may target record highs at $730, followed by $790. Otherwise, continued selling could keep the price fluctuating within the $570 to $687 range for some time.
XRP remains tightly range-bound. Recent trading has seen the token oscillate between its descending channel’s upper trend line and key moving averages. A breakout could rapidly send XRP towards $1.61, with $2.40 as the next target if resistance is overcome. Conversely, a close below the averages could prompt a retreat to $1.27.
Key technical points among major altcoins
Despite selling pressure at the $98 resistance, Solana continues to find support near its 20-day average at $89. A successful retest of $98 could lead to advances towards $106 and $117, whereas a drop below support would likely mean more sideways movement between $76 and $98 in SOL/USD.
For Dogecoin, buyers are stepping in near the $0.10 moving average mark, attempting to lift the price higher. However, unless DOGE can breach resistance at $0.12, it appears poised to remain within the $0.09–$0.12 band. Overcoming this barrier could trigger a rapid run-up towards $0.16.
On Hyperliquid, a move below the $40.55 average indicates that short-term profit-taking is underway. Breaking under $38.70 could spark further declines to $34.45. Efforts by buyers may face persistent resistance at $41.56 and the $43.76–$45.77 range, while a clear break above $45.77 might propel the price toward $50.
Cardano continues to face resistance at the $0.26 average, suggesting sustained bearish pressure. If ADA manages to push past $0.29 and then $0.31, upward momentum could proceed to $0.40. Until then, the price may keep searching for a bottom within the $0.22–$0.31 band.
Zcash holders are signaling caution, with a weak recovery from the $560 support and ongoing risk of decline. If this level fails, ZEC could fall to its $481 moving average and potentially as low as $400. Should the market reverse and push above $643, upward momentum could drive the price toward $750.
Bitcoin Cash slipped below its $443 support, indicating increased selling pressure. Strong buying is anticipated near $419, but any loss of this level could trigger a drop toward $375. If the price recovers sharply and breaks above the moving averages, BCH may consolidate for a while; a close above $486 could signal the start of a new rally.
Arthur Hayes argues that Bitcoin will pick up speed once it crosses $90,000 and that reaching $126,000 is inevitable. He also sees positive effects for the crypto sector from broader macroeconomic shifts.
