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.
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