Just-In: Bitcoin (BTC) Price May Remain Below $20,000 This Year, Here’s Why

Varinder Singh
September 6, 2022 Updated May 12, 2025
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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Bitcoin

Bitcoin (BTC) price struggles to surpass $20,000 as the bear hug tightens further. The rise in selling pressure, the Fed’s hawkish rate hikes, and whales selling their BTC holdings degrade the chances of any revival. Moreover, the increasing dormant BTC supply is making the bear market stretch longer.

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Bitcoin (BTC) Price Goes into Hibernation Mode

Bitcoin (BTC) has failed to reclaim the $20,000 level after the recent sell-off. The weak macroeconomics, bearish sentiment, and massive selloff by whales and miners have bleak the chances of a strong recovery. These signs can be seen as the Bitcoin dominance drops to an all-time low.

As per Glassnode data, the volume of Bitcoin supply that remained unspent for over a year has reached a new ATH of 12.589 million. Therefore, about 66% of the current circulating supply is dormant. Moreover, the increasing dormant supply is an indicator of a bear market. It means the Bitcoin (BTC) price has moved deeper into the bear market.

 Bitcoin Supply Last Active 1yr
Bitcoin Supply Last Active 1yr. Source: Glassnode

Recently, several dormant whale addresses have become active and sold their Bitcoin (BTC) holdings. A whale dormant for 7-10 years sold 5000 BTC in a single block and another whale dormant for 9 years sold 5000 BTC to crypto exchange Kraken. The movement of dormant bitcoins after several years is an important bearish signal.

The next Bitcoin fall may be happening due to dormant whales and miners selling their BTC holdings. Moreover, September month seems to be bad again for Bitcoin as BTC options and futures expiry will witness massive liquidations.

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BTC Price May Remain Below $20,000 This Year

The Bitcoin (BTC) price is most likely to fall below $15k. Historically, the BTC price had bottomed at the delta level, which is $14,478. Notable analysts including Peter Brandt and Big Cheds earlier warned the BTC price risks falling to $13k as there is no strong support below $19K.

The rising selling pressure and dormant BTC supply may stretch the bear market for a longer period. The chances of every bullish pressure getting negated by bears are quite high. Moreover, Ethereum has taken the spotlight with its upcoming Merge, and Cardano records strong activity and demand amid the Vasil hard fork.

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Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
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Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

About Author
About Author
Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.