Analysts Expect More Pain Ahead as Bitcoin Searches for a Bottom

Bitcoin

Bitcoin’s painful drop has not finished playing out, according to multiple market analysts, despite a short-lived jump above $85,000 earlier in the day.

Key Takeaways:

The rebound above $85K wasn’t a real recovery.
BTC is likely to range and retest lows before finding a bottom.
Breaking multi-year support means more downside risk remains.

The relief rally, triggered by dovish signals from the Federal Reserve, failed to flip market sentiment, and traders are now preparing for a choppy consolidation phase rather than a fast recovery.

Market Still Searching for Support

Cryptocurrency strategist Steven Ehrlich argues that Bitcoin remains deep in bear-pressure territory, noting that buyers have shown no convincing strength yet. Technical metrics, he says, point toward a prolonged correction rather than a reversal. What makes this decline especially notable, in his view, is Bitcoin’s impact on the rest of the market — “BTC is steering the ship this time,” not simply responding to broader sentiment.

Adding to the cautionary outlook, Ehrlich highlights the breakdown of Bitcoin’s multi-year ascending price channel, a structure that had cushioned BTC since 2023. Losing that key support, first built during the Trump-era bull run, now forces traders to identify a new foundational level from scratch.

A Range-Bound Battle May Come First

Popular market analyst Michaël van de Poppe has echoed similar caution but with a different angle. He expects Bitcoin to form a base only after weeks — possibly months — of turbulent sideways movement. In his breakdown, the market could repeatedly revisit both lower levels and the $87,000–$90,000 region before any real direction appears.

Rather than a straight drop or clean rebound, van de Poppe anticipates a “grinding accumulation phase,” with BTC bouncing between extremes until liquidity clears. His analysis chart shows repeated tests across major support zones before a proper trend emerges.

The recent reaction to Fed rate-cut speculation shows that macro news still triggers short-term volatility — but it isn’t enough to overpower heavy selling pressure. Bitcoin’s intraday rebound faded quickly, reinforcing the idea that the market needs a deeper reset before the next bullish attempt.

The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.

Author

Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.