“The Worst Is Coming” Experts: Bitcoin Could Slip To These Levels!

Glassnode co-founders and Santiment reveal valuable insights for Bitcoin price with new insights and perspectives. Two major analytics firms are warning investors that “the worst is coming” for the BTC price. Accordingly, new information and explanations reveal that the price may slip to $ 15,000.

“The worst is coming for Bitcoin”

Glassnode founders said that “the worst is on the way” for Bitcoin. According to them, the negativity on Bitcoin (BTC) is increasing after the FED issues another rate hike. Founders Jan Happel and Yann Allemann said the Fed’s hawkish stance overshadows fundamental developments in the crypto space. According to them, BTC is therefore trading below $20,000. Moreover, interest rate hikes expose Bitcoin to increased bearish risk with bearish momentum. Glassnode founders said:

“Both the monetary policy and regulatory fronts bring nothing but setbacks for cryptocurrencies.”

“Increasing volume and negative investor sentiment do not bode well”

Glassnode co-founders emphasize spot volume in addition to a negative macro location. According to them, there is an increase in volume while BTC’s bearish trend continues. This is information that could potentially point to more pain for Bitcoin holders. As a result, spot volume supports the bearish trend. Therefore, much more buying pressure will be required for a comeback in the future.

The duo also points to signs that investors are not being optimistic about their BTC price prospects. Currently, the volume ratio from futures to spot is well below one. Moreover, this data has been falling steadily since the Fed’s surprise 50 basis point rate hike in June. This development reveals that the belief and speculation in the system has decreased. However, the duo thinks that BTC will continue to trade in a wide range. According to them, this range is in the middle of $17,000 to $25,000.

“Whale accumulation continues to decrease”

In this middle, information from Santiment revealed interesting information about whale movements. According to the data, Bitcoin whale assets have been falling for 100 consecutive months. Santiment attributes this decline to inflation horrors and a risk of global calm. Accordingly, the number of addresses holding 100 to 10,000 Bitcoins has reached the lowest level recorded since April 2020. This suggests that whales remain extremely cautious considering the current macro environment.

“Bitcoin may slide to these bottoms”

Koindeks.com As we reported, BTC price is currently around $ 18,700. It is also experiencing valuable downward pressure from the bears. Technical metrics suggest price hold steady for a longer period of time as the bulls and bears continue to battle for dominance. In this middle, the MACD line and the signal boundary crossed each other multiple times. However, it could not give a definite buy or sell signal. However, it is possible to reverse this with the negative information mentioned above. According to the analyst, at this point, the Bitcoin price can base at $ 15,000.

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