Multiple analysts are bearish on BTC to $76,000, with technical pressure pushing the downside potential over 15%

Bitcoin recently encountered resistance at $95,000 and has begun to retrace. Several analysts have expressed bearish views, suggesting that BTC could further decline to $76,000. This implies that, from the current price, the downside potential may exceed 15%. However, this also reflects market disagreement on Bitcoin’s short-term trend, warranting careful analysis.

Multiple Analysts Share Bearish Consensus

According to the latest news, analyst Roman posted on X platform stating that he still believes BTC will reach $76,000. He pointed out that the current sideways consolidation is merely a reset for a potential decline, with no signs of reversal, and that the higher timeframes remain very bearish.

Keith Alan, co-founder of Material Indicators, shares a similar view. He indicated that BTC’s initial breakout attempt has been confirmed as failed, and currently focuses on technical support levels between $87,500 and $89,000. More notably, he believes that as a macro death cross forms on the weekly chart later this month, any upward movement should be viewed as a selling opportunity.

Trader Daan Crypto Trades also thinks that the monthly lows are unlikely to hold, leaning towards a breakdown of these lows to create conditions for a bottoming process.

Multiple Technical Pressures

Based on current data, BTC is indeed facing multiple pressures:

• Price Level: Current price at $90,399.50, retraced from resistance at $95,000
• 24-hour Change: Down 0.90%, indicating short-term pressure
• Support Levels: $87,500–$89,000 are key support zones analysts are watching
• Technical Signals: A weekly death cross is about to form, a mid-term bearish signal
• Breakout Failure: Several analysts believe BTC’s upward breakout attempt has failed

Downside Targets and Risk Assessment

Roman’s target of $76,000 implies a decline of approximately 15.8% from the current price. However, it’s important to note that this is just an analyst’s opinion, not a certain trend. Before reaching $76,000, the support levels at $87,500–$89,000 will be critical observation points.

If this zone is broken downward, it would further validate the bearish outlook. Conversely, a rebound from this support could alter the short-term technical landscape.

Market Context

In terms of market size, BTC’s market cap remains at $1.81 trillion, accounting for 58.50% of the total cryptocurrency market cap. The 24-hour trading volume is $4.274 billion, indicating sufficient liquidity. This suggests that despite technical pressures, market participation remains high.

Summary

The bearish consensus among multiple analysts indicates a short-term bearish outlook for BTC. From a technical perspective, resistance at $95,000, the upcoming weekly death cross, and the critical support levels all point to the possibility of further correction. However, the $76,000 target will only be realized if the support at $87,500–$89,000 is broken. For investors, closely monitoring this support zone is key, as it will determine the next directional move.