Bitcoin Price Today: What’s Next After 8% BTC Crash?

Discover 3 Reasons why Bitcoin price crashed and what to expect next from BTC. A run up to $100,000 or a extend the crash to $77,000?
By Akash Girimath
November 27, 2024 | Updated November 27, 2024
What's Next After 8% Bitcoin Price Crash?

Highlights

  • Bitcoin price is showing signs of slowing down after crashing 8% in the past four days.
  • If the bullish momentum is back, BTC could bounce and retest the $95,981 and $96,739 hurdles.
  • A breakdown of $87,637 will invalidate the bullish thesis and catalyze a 17% correction to $77,074.

After setting up an all-time high (ATH) at $99,690 on November 22, BTC crashed 8.88% in total and created a local bottom at $90,835. Will Bitcoin recover and visit $100,000 or continue its descent to $77,000? Bitcoin (BTC) price today trades at $95,945.0 on 11 PM. BTC price hit a daily high of $97,360.0 today after a 4.45% move on September 26.

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Bitcoin Price Today: 3 Reasons Why BTC Crashed

Bitcoin price dropped 8.88% between the November 22 high of $99,690 and created a local bottom at $90,835. This four-day crash has wiped out more than $1 billion worth of positions. Let’s explore three reasons why Bitcoin crashed.

  1. With Bitcoin breaking its seven-month consolidation range, it likely attracted massive retail investors. As a result of this increased leverage, short-term drops are natural and cull early bulls and impatient investors.
  2. Additionally, $100,000 is a key psychological level, and before Bitcoin price takes out this hurdle, a short-term shakeout is something that veteran traders expect. This allows for a reduction of the total leverage and resets the market dynamics.
  3. One of the key reasons could be profit-taking. Considering that BTC shot up from $17,000 at the start of 2023 and is now hovering just below $100,000, it is likely that these investors will realize profits, adding to the selling pressure.

As mentioned, Bitcoin price today is up 4.45% after BTC crashed 8.88% and currently auctions around $95,945.0. Despite the recent drop, BTC shows signs of recovery and trades around $95,945.0. Many were seen preemptively celebrating Bitcoin hitting $100,000 on Friday, but the recent crash has revealed that BTC has other plans. Regardless, one thing is clear – investors are eager to see Bitcoin cross the historic six-digit level. While some altcoins are shooting up, most are waiting for BTC to cool off.

From the looks of it, Bitcoin price looks ready to recover and is showing signs of forming a local bottom.

*bitcoin price updated as of 11 PM.

Value of BTC trades at $95,945.0, bringing the year-to-date gain from 56% on October 20 to 120% as of September 26. The YTD performance has slumped due to the recent BTC crash. Although many altcoins have shot up over triple digits, Bitcoin is catching up. Ethereum price’s YTD performance is lackluster, stands at 45%, and is well below BTC.

Although Bitcoin is the largest cryptocurrency by market capitalization, Bitcoin’s popularity is due to its first-mover advantage and its being a secure, decentralized network. In addition, many narratives, like digital gold, inflation hedges, and uncorrelated assets, have kept BTC at the forefront of the crypto market since its inception in 2009.

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Will BTC Price Finish 2024 on Bullish Note?

Industry veterans’ speculation of a bull run post-US elections was right, and Bitcoin is likely to end November 2024 on a positive note. Many even expect a six-digit target for BTC by the end of November, and this is due to the historical returns. History shows that Bitcoin has always performed massively in the fourth quarter.

Historical Bitcoin Price Performance
Historical Bitcoin Price Performance

With that said, if Bitcoin price hits a new ATH in November or December, Bitcoin’s market capitalization, which stands at $1,898.2 billion, could finally hit the $2 trillion mark.

Bitcoin’s Market Capitalization

While Bitcoin’s market cap hovers around $1,898.2 billion, with Ethereum, the duo controls nearly 65% of the total cryptocurrency market capitalization. Despite the seven-month consolidation, Bitcoin’s $1.93 trillion market cap remains strong, anticipating it reaching $2 trillion before 2025.

BTC: A composition of 24-hour Trading Volume

Being the top crypto has its benefits; more people tend to flock toward the asset. Likewise, BTC’s 24-hour trading volume stands at $78.6 billion. Binance, one of the largest cryptocurrency exchanges, contributes a major portion of this volume. Binance’s share of BTC’s 24-hour trading volume comprises spot and perpetuals trading. While spot volume hovers around 11%, perpetual volume is 41%. Exchanges like OKX, Bitget, etc, follow Binance.

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Key Bitcoin Blockchain Updates

With a market cap of $1.93 trillion, it is necessary for the network to remain secure, decentralized, and scalable. This is possible by upgrading the Bitcoin network regularly.

Here are some notable upgrades the Bitcoin network has received or planned to receive since its inception in 2009.

Bitcoin Network Upgrades Since 2009

Here are some key milestone upgrades to the Bitcoin network over the past decade.

2020-2024:

  • Taproot Upgrade (2021): Improved Bitcoin’s smart contract functionality, allowing for more complex transactions and enhanced privacy.Muir Glacier Upgrade (2020): Delayed the “ice age” that would have slowed down the network, ensuring the continued smooth operation of Bitcoin.

2017-2019:

  • Segregated Witness (SegWit) Upgrade (2017): Increased the block size limit, allowing for more transactions to be processed on the network, and improved the overall scalability of Bitcoin.
  • Schnorr/Tapscript Upgrade (proposed): Aims to further improve the efficiency and scalability of Bitcoin transactions, but has not yet been activated.
  • SegWit2x (canceled): A proposed upgrade that aimed to increase the block size limit, but was ultimately canceled due to lack of consensus.

2015-2016:

  • Bitcoin Core 0.12.0 Upgrade (2016): Introduced several improvements, including better wallet management and enhanced security features.
  • BIP66 Upgrade (2015): Standardized the way Bitcoin transactions are verified, improving the overall security and reliability of the network.

2013-2014:

  • Bitcoin Core 0.9.0 Upgrade (2014): Introduced a new wallet format and improved the overall performance of the Bitcoin client.
  • BIP0016 Upgrade (2013): Enabled the use of payment protocol, allowing for more efficient and secure transactions.

2010-2012:

  • Pay-to-Script-Hash (P2SH) Upgrade (2012): Introduced a new type of transaction that allows for more complex payment scenarios, improving the overall flexibility of the Bitcoin network.
  • Bitcoin Core 0.6.0 Upgrade (2011): Introduced several improvements, including better wallet management and enhanced security features.

2009-2010:

  • Bitcoin Core 0.3.0 Upgrade (2009): One of the earliest upgrades to the Bitcoin network, introducing several key features and improvements.
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Bitcoin Price Outlook For Next Month

Date Price Change
September 26, 2025112133.070.94%
September 27, 2025114409.262.99%
September 28, 2025116865.905.2%
September 29, 2025120044.328.06%
September 30, 2025122888.2610.62%
October 01, 2025125230.4612.73%
October 02, 2025125643.3213.1%
October 03, 2025124769.9512.32%
October 04, 2025123370.8011.06%
October 05, 2025121840.219.68%
October 06, 2025122282.3610.08%
October 07, 2025122798.2710.54%
October 08, 2025123609.2411.27%
October 09, 2025124050.8911.67%
October 10, 2025123938.5911.57%
October 11, 2025123626.5411.29%
October 12, 2025123181.3310.89%
October 13, 2025122791.7510.54%
October 14, 2025122416.0810.2%
October 15, 2025122453.4910.23%
October 16, 2025122066.919.89%
October 17, 2025119984.388.01%
October 18, 2025118503.846.68%
October 19, 2025117926.276.16%
October 20, 2025117479.165.76%
October 21, 2025117119.015.43%
October 22, 2025116083.914.5%
October 23, 2025114880.073.42%
October 24, 2025115548.764.02%
October 25, 2025116101.924.52%

Based on Coingape’s Bitcoin price prediction, investors can expect a double-digit rally that leads to a peak of $110,724 in the coming month. While there may be a brief correction, BTC’s trend remains bullish. Bitcoin Price Forecast Between 2025 and 2029

Bitcoin Price Outlook Between 2025 & 2029

2025
2026
2027
2028
2029
Month Minimum Price Average Price Maximum Price Potential ROI
January $112,122.17 $123,500.47 $117,811.33 6.4%
February $111,048.77 $121,357.63 $116,203.20 4.9%
March $109,975.38 $119,214.78 $114,595.08 3.5%
April $108,901.98 $117,071.93 $112,986.96 2%
May $107,828.58 $114,929.08 $111,378.83 0.57%
June $106,755.18 $112,786.24 $109,770.71 -0.9%
July $105,681.78 $110,643.39 $108,162.59 -2.3%
August $104,608.38 $108,500.54 $106,554.46 -3.8%
September $103,534.99 $106,357.69 $104,946.34 -5.2%
October $102,461.59 $104,214.85 $103,338.22 -6.7%
November $101,388.19 $102,072 $101,730.09 -8.1%
December $100,314.79 $99,929.15 $100,121.97 -9.6%
All Time $106,218.48 $111,714.81 $108,966.65 -1.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $115,006.06 $115,279.55 $118,300.31 6.8%
February $129,697.33 $130,629.96 $136,478.64 23.2%
March $144,388.59 $145,980.36 $154,656.98 39.7%
April $159,079.86 $161,330.77 $172,835.31 56.1%
May $173,771.13 $176,681.17 $191,013.65 72.5%
June $188,462.40 $192,031.58 $209,191.99 88.9%
July $203,153.66 $207,381.98 $227,370.32 105.3%
August $217,844.93 $222,732.38 $245,548.66 121.7%
September $232,536.20 $238,082.79 $263,726.99 138.1%
October $247,227.47 $253,433.19 $281,905.33 154.6%
November $261,918.73 $268,783.60 $300,083.66 171%
December $276,610 $284,134 $318,262 187.4%
All Time $195,808.03 $199,706.78 $218,281.15 97.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $288,031.92 $295,876.08 $331,980.67 199.8%
February $299,453.83 $307,618.17 $345,699.33 212.2%
March $310,875.75 $319,360.25 $359,418 224.6%
April $322,297.67 $331,102.33 $373,136.67 236.9%
May $333,719.58 $342,844.42 $386,855.33 249.3%
June $345,141.50 $354,586.50 $400,574 261.7%
July $356,563.42 $366,328.58 $414,292.67 274.1%
August $367,985.33 $378,070.67 $428,011.33 286.5%
September $379,407.25 $389,812.75 $441,730 298.9%
October $390,829.17 $401,554.83 $455,448.67 311.3%
November $402,251.08 $413,296.92 $469,167.33 323.7%
December $413,673 $425,039 $482,886 336%
All Time $350,852.46 $360,457.54 $407,433.33 267.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $429,904.75 $442,094.58 $502,406.67 353.7%
February $446,136.50 $459,150.17 $521,927.33 371.3%
March $462,368.25 $476,205.75 $541,448 388.9%
April $478,600 $493,261.33 $560,968.67 406.6%
May $494,831.75 $510,316.92 $580,489.33 424.2%
June $511,063.50 $527,372.50 $600,010 441.8%
July $527,295.25 $544,428.08 $619,530.67 459.4%
August $543,527 $561,483.67 $639,051.33 477.1%
September $559,758.75 $578,539.25 $658,572 494.7%
October $575,990.50 $595,594.83 $678,092.67 512.3%
November $592,222.25 $612,650.42 $697,613.33 529.9%
December $608,454 $629,706 $717,134 547.6%
All Time $519,179.38 $535,900.29 $609,770.33 450.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $629,182.08 $651,286.83 $746,570.67 574.1%
February $649,910.17 $672,867.67 $776,007.33 600.7%
March $670,638.25 $694,448.50 $805,444 627.3%
April $691,366.33 $716,029.33 $834,880.67 653.9%
May $712,094.42 $737,610.17 $864,317.33 680.5%
June $732,822.50 $759,191 $893,754 707.1%
July $753,550.58 $780,771.83 $923,190.67 733.6%
August $774,278.67 $802,352.67 $952,627.33 760.2%
September $795,006.75 $823,933.50 $982,064 786.8%
October $815,734.83 $845,514.33 $1,011,500.67 813.4%
November $836,462.92 $867,095.17 $1,040,937.33 840%
December $857,191 $888,676 $1,070,374 866.5%
All Time $743,186.54 $769,981.42 $908,472.33 720.3%

In the next year, aka 2025, Bitcoin price is likely to stay well above the six-digit territory and shows no signs of correction below it. Coingape’s Bitcoin price prediction data reveals a peak of $104,280.26 in February 2025.

Bitcoin Price Prediction & Targets between 2030 and 2050

2030
2031
2032
2033
2040
2050
Month Minimum Price Average Price Maximum Price Potential ROI
January $891,437.08 $923,260.58 $1,106,591.50 899.2%
February $925,683.17 $957,845.17 $1,142,809 931.9%
March $959,929.25 $992,429.75 $1,179,026.50 964.7%
April $994,175.33 $1,027,014.33 $1,215,244 997.4%
May $1,028,421.42 $1,061,598.92 $1,251,461.50 1030.1%
June $1,062,667.50 $1,096,183.50 $1,287,679 1062.8%
July $1,096,913.58 $1,130,768.08 $1,323,896.50 1095.5%
August $1,131,159.67 $1,165,352.67 $1,360,114 1128.2%
September $1,165,405.75 $1,199,937.25 $1,396,331.50 1160.9%
October $1,199,651.83 $1,234,521.83 $1,432,549 1193.6%
November $1,233,897.92 $1,269,106.42 $1,468,766.50 1226.3%
December $1,268,144 $1,303,691 $1,504,984 1259%
All Time $1,079,790.54 $1,113,475.79 $1,305,787.75 1079.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $1,312,942.92 $1,349,873.33 $1,560,890.75 1309.5%
February $1,357,741.83 $1,396,055.67 $1,616,797.50 1360%
March $1,402,540.75 $1,442,238 $1,672,704.25 1410.4%
April $1,447,339.67 $1,488,420.33 $1,728,611 1460.9%
May $1,492,138.58 $1,534,602.67 $1,784,517.75 1511.4%
June $1,536,937.50 $1,580,785 $1,840,424.50 1561.9%
July $1,581,736.42 $1,626,967.33 $1,896,331.25 1612.4%
August $1,626,535.33 $1,673,149.67 $1,952,238 1662.9%
September $1,671,334.25 $1,719,332 $2,008,144.75 1713.3%
October $1,716,133.17 $1,765,514.33 $2,064,051.50 1763.8%
November $1,760,932.08 $1,811,696.67 $2,119,958.25 1814.3%
December $1,805,731 $1,857,879 $2,175,865 1864.8%
All Time $1,559,336.96 $1,603,876.17 $1,868,377.88 1587.1%
Month Minimum Price Average Price Maximum Price Potential ROI
January $1,880,662 $1,934,657.25 $2,253,574.67 1935%
February $1,955,593 $2,011,435.50 $2,331,284.33 2005.1%
March $2,030,524 $2,088,213.75 $2,408,994 2075.3%
April $2,105,455 $2,164,992 $2,486,703.67 2145.5%
May $2,180,386 $2,241,770.25 $2,564,413.33 2215.6%
June $2,255,317 $2,318,548.50 $2,642,123 2285.8%
July $2,330,248 $2,395,326.75 $2,719,832.67 2356%
August $2,405,179 $2,472,105 $2,797,542.33 2426.2%
September $2,480,110 $2,548,883.25 $2,875,252 2496.3%
October $2,555,041 $2,625,661.50 $2,952,961.67 2566.5%
November $2,629,972 $2,702,439.75 $3,030,671.33 2636.7%
December $2,704,903 $2,779,218 $3,108,381 2706.8%
All Time $2,292,782.50 $2,356,937.63 $2,680,977.83 2320.9%
Month Minimum Price Average Price Maximum Price Potential ROI
January $2,814,369.17 $2,894,071.33 $3,244,807.33 2830%
February $2,923,835.33 $3,008,924.67 $3,381,233.67 2953.2%
March $3,033,301.50 $3,123,778 $3,517,660 3076.4%
April $3,142,767.67 $3,238,631.33 $3,654,086.33 3199.6%
May $3,252,233.83 $3,353,484.67 $3,790,512.67 3322.8%
June $3,361,700 $3,468,338 $3,926,939 3446%
July $3,471,166.17 $3,583,191.33 $4,063,365.33 3569.2%
August $3,580,632.33 $3,698,044.67 $4,199,791.67 3692.4%
September $3,690,098.50 $3,812,898 $4,336,218 3815.6%
October $3,799,564.67 $3,927,751.33 $4,472,644.33 3938.8%
November $3,909,030.83 $4,042,604.67 $4,609,070.67 4062%
December $4,018,497 $4,157,458 $4,745,497 4185.1%
All Time $3,416,433.08 $3,525,764.67 $3,995,152.17 3507.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $4,182,517.25 $4,351,472.75 $4,935,547.58 4356.8%
February $4,346,537.50 $4,545,487.50 $5,125,598.17 4528.4%
March $4,510,557.75 $4,739,502.25 $5,315,648.75 4700%
April $4,674,578 $4,933,517 $5,505,699.33 4871.6%
May $4,838,598.25 $5,127,531.75 $5,695,749.92 5043.2%
June $5,002,618.50 $5,321,546.50 $5,885,800.50 5214.8%
July $5,166,638.75 $5,515,561.25 $6,075,851.08 5386.4%
August $5,330,659 $5,709,576 $6,265,901.67 5558.1%
September $5,494,679.25 $5,903,590.75 $6,455,952.25 5729.7%
October $5,658,699.50 $6,097,605.50 $6,646,002.83 5901.3%
November $5,822,719.75 $6,291,620.25 $6,836,053.42 6072.9%
December $5,986,740 $6,485,635 $7,026,104 6244.5%
All Time $5,084,628.63 $5,418,553.88 $5,980,825.79 5300.6%
Month Minimum Price Average Price Maximum Price Potential ROI
January $6,142,644.67 $6,634,610.58 $7,171,615.08 6375.9%
February $6,298,549.33 $6,783,586.17 $7,317,126.17 6507.3%
March $6,454,454 $6,932,561.75 $7,462,637.25 6638.7%
April $6,610,358.67 $7,081,537.33 $7,608,148.33 6770.1%
May $6,766,263.33 $7,230,512.92 $7,753,659.42 6901.5%
June $6,922,168 $7,379,488.50 $7,899,170.50 7032.9%
July $7,078,072.67 $7,528,464.08 $8,044,681.58 7164.3%
August $7,233,977.33 $7,677,439.67 $8,190,192.67 7295.7%
September $7,389,882 $7,826,415.25 $8,335,703.75 7427.1%
October $7,545,786.67 $7,975,390.83 $8,481,214.83 7558.5%
November $7,701,691.33 $8,124,366.42 $8,626,725.92 7689.9%
December $7,857,596 $8,273,342 $8,772,237 7821.3%
All Time $7,000,120.33 $7,453,976.29 $7,971,926.04 7098.6%

Roughly five years from now, aka 2023, Bitcoin’s price will see an explosion to the upside, with an all-time high of $774,474 in the aforementioned year. In the same period, BTC could reach a low of $465,154.42. Based on CoinGape predictions, the average price of BTC in 2050 is between $2.9 million and $3.3 million.

Investors should note that these long-term predictions can change and, hence, should be taken with a grain of salt.

Bitcoin Price Analysis: What’s Next for BTC After 8% Crash?

Despite the recent drop, Bitcoin remains bullish. Even if BTC drops another 7%, it won’t lose the bullish market structure. The key swing point that needs to be held is $87,367, and a bounce here will keep the optimism and put BTC back on track to hit $100,000.

The Relative Strength Index (RSI) has bounced after briefly touching the oversold level, suggesting the resurgence of bullish momentum. Additionally, the Awesome Oscillator (AO) has also produced higher low histograms below the zero mean level, indicating a reduction of the bearish momentum and an uptick in buying pressure. All these signals suggest that a short-term uptick in Bitcoin price is likely.

As seen in the below chart, BTC could either bounce from the current level or slide lower. If it bounces here, it will face the $95,981 and $96,739 hurdles. If the correction is done, then Bitcoin should breach these barriers and set up a new ATH at $100,000.

On the other hand, if BTC continues its descent, it will visit $87,637, the aforementioned key support level. This would be a good opportunity for sidelined buyers to step in and accumulate BTC before a $100,000 retest.

BTC:USDT 1-hour chart
BTC:USDT 1-hour chart

On the contrary, if the $87,637 support level fails to hold, it would invalidate the bullish outlook and produce a lower low on the one-hour chart. This move would signal the breach of the uptrend market structure. Such a development could see Bitcoin trigger a 17% crash to $77,074.

Akash Girimath
Senior Cryptocurrency Analyst & Market Strategist Engineer-turned-analyst Akash Girimath delivers data-driven insights on cryptocurrency markets, DeFi, and blockchain technology for platforms like AMBCrypto and FXStreet. Specializing in technical analysis, on-chain analytics, and risk management, he empowers institutional investors and retail traders to navigate market volatility and regulatory shifts. A hands-on strategist, Akash merges active crypto portfolio management with research on Web3, NFTs, and tokenomics. At AMBCrypto, he led cross-functional teams to redesign content frameworks, achieving record-breaking traffic growth through scalable editorial strategies. His analyses dissect market sentiment, investment strategies, and price predictions, blending macroeconomic trends with real-world trading expertise. Known for mentoring analysts and optimizing workflows for high-impact reporting, Akash’s work is cited across global crypto publications, reaching 500k+ monthly readers. Follow his insights on YouTube, X, and LinkedIn for cutting-edge perspectives on decentralized ecosystems and crypto innovation.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Methodology

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This content is purely for educational purposes and should not be considered as financial advice. Do your own research before investing in any crypto platform and only invest the amount you can afford to lose.