Analysts predict that Bitcoin may face a "massive cleansing" and fall towards $55,000 as capital outflows accelerate.

PANews reported on February 24th that, according to The Block, Bitcoin continued its decline on Tuesday, briefly falling below $62,900, a daily drop of approximately 4%. Analysts warned that against the backdrop of continued capital outflows and accumulating macroeconomic risks, the market may face a more significant "cleansing." Samer Hasn, senior market analyst at XS.com, stated that Bitcoin has moved out of its consolidation phase and entered a new downward cycle, with geopolitical tensions, tariff uncertainty, and tightening liquidity accelerating the exodus of funds from the crypto market. He believes that if selling pressure continues, the $53,000 to $55,000 range is a potential downside target. Matt Howells-Barby, vice president of Kraken, pointed out that Bitcoin may see its first six-week losing streak since May 2022, with $60,000 being a key support level; a break below this level could see a drop to around $55,000.