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BTC may still spike to $97,000-$107,000, but experts say technicals overwhelmingly favor a deeper breakdown toward $70,000 level next.
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Summarize with AI
Summarize with AI
Bitcoin (BTC) has been steadily trading above $90,000 amidst escalating tensions between US President Donald Trump and Federal Reserve Chairman Jerome Powell, alongside geopolitical unrest.
But the crypto asset’s triple bearish setup could drag prices to $70,000.
Three Bearish Patterns
Crypto analyst Doctor Profit warned that Bitcoin will decline toward the $70,000 level, even if prices see short-term upside first. He said BTC is currently forming three bearish technical structures across higher timeframes, thereby increasing the risk of a deeper correction.
The first signal is a large bearish divergence visible on both weekly and monthly charts. It is currently indicating weakening momentum despite relatively high prices. The second is a bearish flag formation, which the analyst said points directly toward the $70,000 region. The third is a potential head-and-shoulders pattern that remains active and could still complete before a broader sell-off.
Doctor Profit said a move higher cannot be ruled out in the near term, and observed that heavy liquidity is sitting between $97,000 and $107,000. This region is expected to attract prices temporarily. However, such a rally would not change the overall bearish structure. He described two possible paths toward $70,000: Bitcoin could either break down directly from the bearish flag or first complete the head-and-shoulders pattern before resuming its decline. While the timing remains uncertain, he said the downside target remains the same.
He also flagged “massive amounts” of heavy insider selling, which has been ongoing since August 2025. According to Doctor Profit, the scale of selling is the largest he has observed during his tracking period and has continued without slowdown in recent weeks. Such market behavior indicates rising stress beneath the surface of the market and is in line with the pressures in the financial system.
The stress in the banking sector and forced liquidations linked to movements in the silver market are contributing to a fragile macro backdrop. When current conditions were compared to periods that preceded major market downturns, the analyst said risks are building across multiple asset classes.
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Looking ahead, upcoming events such as US CPI inflation data and the January 15 vote on the CLARITY Act could affect short-term price action. However, these developments are unlikely to change BTC’s broader bearish trajectory.
Institutional Forecasts Diverge
Not all market observers share the bearish view on Bitcoin. For instance, VanEck recently said that BTC could reach a price of nearly $2.9 million by 2050 under its base-case scenario. The forecast is built on the assumption that the crypto asset evolves into a non-sovereign monetary asset, capturing between 5% and 10% of global trade settlement and accounting for roughly 2.5% of central bank reserve holdings.
Under these conditions, the asset manager estimated that BTC would post a compound annual growth rate of about 15% between 2026 and 2050.
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Source: https://cryptopotato.com/70k-bitcoin-is-a-matter-of-time-analyst-warns-as-triple-bearish-signs-emerge/
