A prominent cryptocurrency analyst has raised concerns about Bitcoin‘s (CRYPTO: BTC) potential downfall if it fails to maintain a significant support level.
What Happened: Altcoin Sherpa, a well-known crypto trader, alerted on X that Bitcoin’s value could plummet to the low $80,000 range if it fails to hold $90,000 as support.
Altcoin Sherpa further speculated that Bitcoin might continue its bearish trend until the US government finalizes its plans for the Bitcoin seized from the Silk Road darknet marketplace.
This speculation comes in the wake of reports that the government has received legal approval to sell over 69,000 BTC.
$BTC maybe we’re going to just see an endless twap sell for now and no …Full story available on Benzinga.com
