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Analyst Issues a Warning: Bitcoin Could Drop to 60,000 US dollars, With Clear Disagreement Between Bullish and Bearish Views
Deep Tide TechFlow News. On May 24, according to Cointelegraph, cryptocurrency market analyst Michaël van de Poppe said that Bitcoin has fallen below the key support range of $75,000 to $76,000. If it fails to reclaim levels above $76,600, it will be difficult to support expectations for new highs, and the price could drop to the $60,000 range. He also noted that there are multiple CME Bitcoin futures gaps above, with the highest located above $79,000, and that the market pullback seen on Friday “often returns to being bullish.”
Currently, Polymarket data shows that the probability of Bitcoin reaching $55,000 in 2026 is 51%, and the probability of falling to $45,000 is 31%. However, on-chain data indicates that 71% of the circulating supply is held by long-term holders, so the likelihood of dropping below $60,000 is relatively limited.
Analyst Matthew Hyland, meanwhile, is more optimistic, pointing out that Bitcoin has risen for about 90 consecutive days since the February low. Historically, there has never been a bear market in which such a prolonged upward trend lasting 89 days occurred. Bitcoin is still below the 365-day and 200-day exponential moving averages, and it also fell below the 50-day moving average on Friday.