
Bitcoin Price Could Plummet to $23,980 if US Stock Market Crashes by 50%
An analyst warns Bitcoin could fall to $23,980 if the US stock market crashes by 50%, citing weaker ETF flows and low US demand.

An analyst warns Bitcoin could fall to $23,980 if the US stock market crashes by 50%, citing weaker ETF flows and low US demand.

Bitcoin and Ethereum experienced price declines following the Federal Reserve's latest meeting, which signaled a hawkish outlook on inflation.

New analysis suggests Bitcoin is forming a significant price floor between $60,000 and $70,000, although short-term bearish signals persist.

Bitcoin's ascent towards $67,000 is met with caution as traders warn of potential price rejection and difficulty sustaining recent gains.

Beyond Bitcoin ETF outflows, a significant slowdown in corporate acquisition of BTC is further dampening overall market demand for the leading cryptocurrency.

All twenty major digital assets tracked by the CoinDesk 20 index experienced price declines, signaling a widespread bearish sentiment across the crypto market.

Analysts are closely watching Bitcoin's critical $60,000 support level, with potential downside targets ranging from $50,000 to as low as $33,000 if it fails.

US-listed spot Bitcoin ETFs have experienced a significant $4.4 billion in outflows over 13 consecutive trading days, coinciding with a 21% drop in Bitcoin's price since May 15.

As Bitcoin dipped below $70,000, triggering $714 million in liquidations, select altcoins like NEAR and Worldcoin posted notable double-digit gains.