Jeff Mei, Chief Operating Officer of BTSE, stated in an interview with CoinDesk that geopolitical and economic uncertainties are prompting institutions to reduce their holdings of cryptocurrency, and Bitcoin may fall to the $70000 to $80000 range in the coming weeks. He pointed out that only after the end of the tariff war and the resumption of interest rate cuts by the Federal Reserve, can major cryptocurrencies possibly return to their previous historical highs.
In addition, Augustine Fan, the head of insights at SignalPlus, expressed a pessimistic view on the technical prospects of Bitcoin. He believes that the current price trend is technically very negative, and the high realized volatility further exacerbates Bitcoin's risk adjustment performance, with almost no obvious positive catalyst in the short term.
CoinDesk's analysis also points out that Bitcoin is testing its 200 day simple moving average (SMA), and if it falls below this key support line, it may mean a break in the important trend line. Both market sentiment and technical aspects show significant downward pressure.
