From Coinpedia · By Qadir AK
The crypto market sell-off has intensified, with Bitcoin approaching a critical support zone after weeks of steady declines. Bitcoin has now fallen around 21% from its recent highs, bringing its price into the $69,000–$64,000 range, which analysts have been tracking as a potential bottoming zone.
Advertisement In his latest market analysis, crypto analyst Dan said Bitcoin has finally reached the support range he had been tracking since September. Bitcoin has dropped approximately 21% from its recent highs, while the broader crypto market continues to struggle with selling pressure.
The current decline was expected as part of his broader market outlook. However, he warned that there is no guarantee that the support will hold.
Bitcoin Price Crash
Bitcoin is now testing a key support zone between $69,000 and $64,000. The $69,000 level marks the 61.8% Fibonacci retracement, while $64,000 represents the 78.6% level.
Holding this range could support a recovery and keep the inverse head-and-shoulders pattern intact, which could signal a potential long-term market bottom. However, a break below this zone could weaken the recovery setup.
Bitcoin is also testing its 200-week exponential moving average. A weekly close below this indicator could increase selling pressure and push prices lower.
Also Read ; Bitcoin (BTC) Price Prediction 2026, 2027
How Low Bitcoin Price Can Drop?
Bitcoin could still fall further and form a new low. A break below its previous low would weaken the possibility of a long-term market bottom in 2026. In this scenario, Bitcoin could drop to $50,000 or lower, extending the downturn through the fourth quarter.
Another sharp decline could also push Bitcoin into deeply oversold territory, similar to the conditions seen during the 2018 bear market and the March 2020 COVID crash.
The current market structure also resembles 2020, when Bitcoin suffered another sharp drop after recovering from a liquidity-driven decline.
Ethereum and Major Altcoins Drop
Ethereum is approaching a key support level near $1,800. This level aligns with the 78.6% Fibonacci retracement and a long-term trendline that has supported its price since 2022.
A drop below $1,800 could weaken Ethereum’s potential inverse head-and-shoulders pattern and increase selling pressure.
Other major altcoins are also losing ground. SUI has returned to lower price levels, while Ondo has erased its recent gains and fallen back into its previous accumulation range.
Cardano is testing support near $0.17, while Chainlink is trading near levels last seen in August 2020. Solana and other altcoins are also declining as selling pressure spreads across the crypto market.