"Bitcoin could fall to $70,000 if the $100,000 support breaks"

If Bitcoin (BTC) fails to hold $100,000, there are claims it could fall to $72,000 within one to two months.

On the 4th (local time), The Block reported that Julio Moreno, head of research at CryptoQuant, said, "If Bitcoin cannot hold the roughly $100,000 area and turns into a downward trend, it is highly likely to correct to around $72,000 within the next one to two months." Today Bitcoin fell below $100,000, marking the lowest level in four months since June.

Moreno analyzed, "Since the large-scale liquidation event on October 10, spot demand for Bitcoin has been steadily shrinking," adding, "ETF net inflows have decreased, and the Coinbase premium has turned negative, indicating weakened investor demand in the U.S. as well." He added, "The Bull Score Index for the crypto market is currently around 20, indicating a clear bearish phase."

Earlier, Geoffrey Kendrick, head of global digital asset research at Standard Chartered, had analyzed that "the collapse of Bitcoin below $100,000 was inevitable after the October 10 liquidation event."

However, there are also optimistic views. Gerry O'Shea, head of global market analysis at Hashdex, said, "This year, the possibility of interest rate freezes, trade tariffs, credit market instability, and concerns about equity overvaluation have triggered overall risk-asset selling," but added, "Selling by long-term holders is an inevitable phenomenon in the asset maturation process. It does not weaken Bitcoin's long-term investment thesis."

He continued, "ETF fund inflows and companies' building of digital asset infrastructure remain robust," and forecasted, "If the Fed ends quantitative tightening, Bitcoin could potentially set a new all-time high within the next few months."