The crypto market is in deep red today, with more than $3 trillion wiped out from the global market cap. Bitcoin, Ethereum, and XRP are all facing heavy sell-offs, and one analyst who accurately warned about Bitcoin’s fall from $115K to $90K now says the next stop could be $60,000.
Bitcoin Falls Sharply as Market Cap Drops 6.2%
Bitcoin is down 7.32% over the last 24 hours, trading at $85,566. Its market cap has slipped to $1.70 trillion, while trading volume has surged above $96 billion, showing intense panic selling.
Ethereum has dropped 7.54%, now at $2,799, and XRP has fallen 7%, trading at $1.97.
This deep correction is spreading across all major altcoins, with BNB down 5% and Solana down more than 7%.
The Analyst Who Called Bitcoin’s Fall From $125K
A market analyst, DrProfit, is gaining attention again after accurately predicting Bitcoin’s fall from $125,000 to the current $85,000 range. Weeks before the correction began, he declared that the bull market had topped out and that $90,000 was his first major downside target.
Now that Bitcoin has reached and broken below that level, he says traders are mistaken if they believe the crash is over.
Bitcoin Short-Term Price Analysis
On the daily chart, Bitcoin has now entered oversold territory for the first time in nine months. Historically, this has led to short-term bounces, but not immediate reversals. The last time this happened, Bitcoin briefly recovered before making new lows in the weeks that followed.
As of now, $85,000 is a major support zone. A daily close below this level would put Bitcoin at risk of falling to the next major support between $75,000 and $77,000. If that zone breaks, the path toward the analyst’s $60,000 target could accelerate.
Short-term relief is possible as traders take profits on short positions. But unless Bitcoin reclaims the $92,000 to $94,000 resistance region, analysts believe selling pressure will dominate.
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