BTC Under Pressure
The bears are raging and have pushed Bitcoin lower once again. We’re currently down around -4%, trading near 84k, which, honestly, isn’t bad news. The 80–81k support is holding so far. If that level breaks, the next major support sits around 74k. And if even that doesn’t hold, which I doubt at this point, the area around the old ATH at 69k comes into focus.
There’s a lot of FUD brewing right now: talk of another US lockdown, escalating tensions with Iran, and a Fed that may be done with rate cuts for this year. On top of that, gold and silver have been strong competitors for Bitcoin over the past months. Plenty of reasons why BTC looks weak in the short term.
That said, there are also reasons why I remain bullish. Sentiment is completely bombed out, the kind where even a small spark could trigger a strong upside move. Fundamentally, nothing has changed in Bitcoin’s narrative: a scarce digital asset, “digital gold,” decentralized, neutral, and with steadily growing adoption.
We still have to see where exactly this bear market will bottom, but it will end. And when it does, Bitcoin will rip higher again toward new ATHs. Maybe this year, maybe next, but I’m 100% confident we’ll be significantly higher than 84k in 18–24 months.