Analysts Warn BTC Price Crash to $10K as Glassnode Flags Structural Weakness

Bitcoin bulls failing to hold $70K triggered a slump to $65K again, intensifying bearish sentiment among institutional and retail investors for a steeper crash. Analysts warn BTC price crash to as low as $10K amid on-chain data flashing structural weakness.

Glassnode Highlights Structural Weakness amid Macro Headwinds

On-chain analytics platform Glassnode and others flag structural weakness in Bitcoin, with price action defensive between $60K-$72K range. BTC price could crash to the realized price of $55K.

Bitcoin spot volumes are structurally weak and depressed, creating a demand vacuum and accelerating realized losses. Forced deleveraging in futures, lower ETF and crypto treasury inflows, and elevated downside protection by BTC options traders resemble early 2022 and 2018 bear market patterns.

BTC Realized Price & True Market Mean. Source: Glassnode

Bitcoin Fear & Greed Index drops to 5 (extreme fear) after Nonfarm payrolls increased by 130K in January, above market estimates of 70K and exceeding December’s 48K. The unemployment rate also declined to 4.3% from 4.4% in December, spoiling hopes of Fed rate cuts.

CryptoQuant’s Bitcoin Combined Market Index (BCMI) metric increasingly supports a bear-market transition toward a deeper BTC price crash, not a simple correction. “From a cycle perspective, true bottom conditions may still be ahead,” said a CryptoQuant analyst.

Bitcoin Combined Market Index (BCMI). Source: CryptoQuant

Analysts Predict BTC Price Crash

CryptoQuant research head Julio Moreno and analyst Benjamin Cowen raised concerns over Susquehanna-backed crypto lender BlockFills suspending client deposits and withdrawals, citing recent market volatility.

Earlier, Julio Moreno highlighted Bitcoin ETF outflows, negative Coinbase premiums, drying stablecoin liquidity, and absent structural bull drivers, suggesting the market has already entered a bear phase with limited upside catalysts.

Benjamin Cowen claimed Bitcoin goes below both the realized price and the balanced price in bear markets. He predicts BTC price crash below $40K amid bearish sentiment.

Bitcoin Realized and Balanced Price. Source: Benjamin Cowen

Peter Schiff Predicts Steeper BTC Price Crash Toward $10K

Gold advocate and economist Peter Schiff has reiterated his critical view that BTC faces a catastrophic downside. In recent statements, he noted that long-term charts indicate initial support around $10,000 and cautioned about Bitcoin’s weakness.

Schiff’s comments come amid the current selloff, framing Bitcoin as overvalued and vulnerable to broader macroeconomic pressures. Also, options traders adjusted their positions after the Non-farm payrolls data, with massive call and put volume.

BTC price is trading near $67K after a rebound from a 24-hour low of $65,757. In the last 24 hours, Bitcoin short-term holders moved 28,000 BTC to crypto exchanges at a loss. Traders are now awaiting Friday’s US CPI inflation data and crypto options expiry.

Bitcoin Short-Term Holders P&L in 24H. Source: Maartunn

Source: https://coingape.com/analysts-warn-btc-price-crash-to-10k-as-glassnode-flags-structural-weakness/