As the weekend approaches, Bitcoin is beginning to reflect harsh market realities, with its price retreating to 79,000 dollars. Losses for altcoins have been even steeper. This appears to be the kind of weekend that short-term traders, who are accustomed to short selling, tend to favor. Notably, crypto analyst Ran Neuner warned in his latest assessment that further declines are likely.
Bearish signals deepen in crypto
After the market failed to hold the 80,400 dollar opening price, prospects of a deeper slide towards 75,000 dollars have increased. Such a move could have even more devastating consequences for altcoins. Ran Neuner had previously cautioned about the potential for sharper downturns, suggesting that the downside risk was mounting across the market.
“I am not comfortable with the situation, and further decline seems likely. Yesterday, Bitcoin made another attempt to break out from its flag formation. This move happened on the last day before STRC’s dividend rights expired, boosted by Saylor’s impressive performance. However, the attempt failed.”
Currently, Saylor has stepped away from the STRC market for three weeks. According to the analyst, it remains unclear how the flag formation could successfully break out without his involvement. If no breakout occurs, the chart is expected to accelerate downward. The first key support lies at 79,000 dollars, with BTC now finding buyers around 79,250 dollars. The analyst notes that the second crucial level to watch is 71,000 dollars.
Why risk is on the rise?
While Ran Neuner is evaluating the situation from the perspective of STRC and the bull flag, the current outlook is more complex. The Federal Reserve’s interest rate policy has shifted significantly compared to a few months ago. The chances of rates remaining steady by year’s end are diminishing, and the possibility of a rate hike is now more prominent.
The ongoing Iran crisis remains unresolved, and with the situation dragging on, inflation has become increasingly persistent. With midterm elections approaching and Trump widely expected to lose, the market is factoring in the loss of a pro-crypto stance. This could serve as a major trigger for a broad decline in cryptocurrencies. Technically, if the price falls below 75,500 dollars, much lower levels—potentially down to 50,000 dollars—could come into play.
Warsh had previously indicated plans to end quantitative easing. With interest rates unlikely to be cut based on current data, the question remains: where will cryptocurrencies find support to halt further declines? The answer, for now, appears bleak, and downward momentum seems the easiest path. However, if the Strait of Hormuz reopens, OPEC experiences further divisions, or more countries ramp up oil production independently, leading to higher supply and lower prices, the scenario could shift in a positive direction for risk markets.
Market participants remain focused on these broader macroeconomic and geopolitical factors. The interaction between monetary policy and geopolitical uncertainty is shaping sentiment, especially as critical price supports are tested.
In the absence of strong bullish catalysts, traders remain cautious and many are preparing for further volatility as the weekend trading volume typically decreases.
Analysts highlight that market exhaustion, lack of positive headlines, and shaky investor confidence all contribute to the ongoing weakness in both BTC and major altcoins.
Investors are advised to monitor support levels closely, as a breach could quickly accelerate sell-offs across the crypto market. Keeping an eye on global news regarding interest rates, inflation, and oil supply will remain key for anticipating medium-term trends.
For now, eyes are on Bitcoin’s ability to hold the crucial 79,000 dollar mark. Should this level fail, all signs point to deeper corrections and a test of much lower price points for leading digital assets.
