Experts Predict Bitcoin Price Crash If BTC Repeats This Pattern
Highlights
- Experts predict a downfall, possibly a crash, if BTC price chart pattern repeats a historical pattern.
- Benjamin Cowen, Peter Brandt, Arthur Hayes predict Bitcoin price drop ahead halving.
- BTC price momentum fades ahead Bitcoin halving and CPI.
Crypto market rally resumes as excitement for the upcoming Bitcoin halving increased BTC price to surpass $72,715, with some headwinds expected to resist BTC price rally towards $80K. Experts predict a downfall, possibly a crash, if BTC price chart pattern repeats a historical pattern.
A crash in Bitcoin price could trigger a market-wide drop as seen during previous Bitcoin halving events and recent spot Bitcoin ETF approval.
Bitcoin Price Correction Looms Amid Halving
Crypto investors keenly await Bitcoin halving for further upside momentum in the crypto market, but analysts warn a correction could happen if BTC price form a similar pattern as seen earlier.
Analyst Benjamin Cowen said if BTC repeats a similar pattern seen during spot Bitcoin ETF as it goes into Bitcoin halving, then a BTC price fall can be expected. He expects Bitcoin to make a new ATH after halving and then fall below the $60,000 level.
“Usually these patterns do not repeat exactly, but just showing it here in case something similar happens once again,: he added.
Veteran trader Peter Brandt reacted to the post and Bitcoin tends to follow similar historical patterns in past Bitcoin halving. He said the “same basic pattern has been common in past bull markets in Bitcoin.”
Also Read: JPMorgan CEO Jamie Dimon’s Dire Warning on 8% Interest Rate; BTC to $100K?
Bitcoin Price to Slide Below
BitMEX co-founder Arthur Hayes anticipates a decline in Bitcoin prices before and after the halving event next week. He suggests that during this period, US dollar liquidity will be constrained, contributing to heightened selling pressure on crypto assets.
Moreover, the total outflows from the spot Bitcoin ETFs were $223 million, with Grayscale Bitcoin ETF dragging the total flow towards negative due to outflows surging past $300 million.
Options trading expert Greekslive revealed Bitcoin has entered a pullback as traders mainly sold short-term bitcoin option. The market is still skeptical about the future trend with the main term IV fell slightly. However, a giant whale traded 350 calls for the $200,000 strike price expiring March 2025. Also, the whale has stockpiled nearly 30,000 calls above $100,000 at all terms.
BTC price jumped 4% in the past 24 hours but the price has pared some gains, with the price currently trading at $70,993. The 24-hour low and high are $69,654 and $72,715, respectively. Furthermore, the trading volume has increased by 90% in the last 24 hours.
BTC Futures Open Interest dropped 0.30% in the last 4 hours and BTC Options Open Interest rose slightly in the last 24 hours.
Also Read: US Treasury Seeks Stronger Crypto Controls for National Security
- Hyperliquid DEX Outperforms Top Crypto Exchanges Coinbase, Binance, Robinhood With Zero Downtime
- Crypto Market Loses $670 Billion on CEX Auto Liquidations, Altcoins Crash Intensifies
- Crypto Market Crash With 100% Trump Tariff Announcement on China
- ASTER Airdrop Delayed to October 20 Amid Criticisms Over Token Allocations
- U.S. Inflation Data: BLS to Release CPI Report on October 24 Amid Government Shutdown
- Can $TAPZI Reach $1 In Q1 2026?
- Here’s Why XRP Price May Have a Zcash-Like Surge
- $TAPZI Price Prediction: What’s Ahead of the $TAPZI token Presale?
- Cardano Price Targets $2 as Hydra 1.0 Ignites New Era of Speed and Adoption
- Dogecoin Price Prediction as $23M Leaves Exchanges—Is the Parabolic Phase Beginning?
- Pi Network Price Collapses as Analyst Proposes Turnaround Tweaks
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.
