Bitcoin at Risk: Analyst Warns of Further Drops Despite Potential Floor at $80,000

Recent cryptocurrency markets have been experiencing significant volatility, with Bitcoin’s price tumbling after a sharp sell-off. While the current drop might be attributed to the unwinding of leveraged positions and activity from large investors, analysts suggest that further declines are possible. An analysis suggests that Bitcoin could slide towards $70,000-$75,000 if remaining leveraged trades unwind or if whales continue selling. However, some analysts believe that a floor might be established at around $80,000.