dailyhodl.com
A widely followed crypto analyst is warning that Bitcoin ($BTC) may plummet in value if one key support level breaks down.
In a new post, pseudonymous crypto trader Altcoin Sherpa tells his 244,000 followers on the social media platform X that Bitcoin may revisit the $60,000 range if $BTC loses $78,000 as support.
However, he says if Bitcoin can reclaim the $90,000 range, the flagship crypto asset may reach its all-time high of about $109,000.
“$BTC basically just two paths. This low established at $78,000 feels really vital and if we lose that, you just see mid-$60,000s. If we can somehow get back within the range at $90,000, you probably see a retest of ATH (all-time highs). But that’s a while away. Until then, it’s mostly a waiting game. Expect a lot more volatility for a bit until we actually see where this bottoms and then probably some calm after. Best to stay patient.”
Next up, the analyst says that layer-1 chain Aptos ($APT) may have found a market bottom after bouncing off the $4.80 level.
“Most alts are going to keep going down but I think some of these alts have bottomed. Coins that have (relatively) maintained their lows since early February despite all the volatility and chopped for the last 1.5 months or so. $APT, ACT are examples.”
Bitcoin is trading for $82,757 at time of writing, flat on the day. Meanwhile, Aptos is trading for $5.12 at time of writing, down 7.8% in the last 24 hours.
Generated Image: Midjourney