Cryptocurrency analyst Jason Pizzino has expressed a bearish outlook for Bitcoin (BTC), predicting further declines in the near term.
Pizzino stated that Bitcoin is unlikely to reclaim its all-time high of approximately $108,200 anytime soon.
Highlighting key price levels, Pizzino identified $91,750 as a critical support point for BTC. Should this level fail, he believes the cryptocurrency could slide into the mid to low $80,000 range, potentially reaching $83,500 or even $82,000 within the next couple of weeks.
Pizzino also cautioned that a dip below $85,000 could signal a more significant correction. He warned that if Bitcoin closes below $73,000 or $74,000—levels associated with previous tops—it could indicate a weakening market, though not necessarily a catastrophic collapse.
Reflecting on Bitcoin’s recent performance, Pizzino noted that the cryptocurrency has now spent 14 consecutive days below its peak, the longest such stretch in this bull cycle.
He attributes the extended recovery time to the extreme optimism that fueled the rally to $108,200. However, he remains optimistic about the market’s ability to “reset,” suggesting that the current downturn may pave the way for more sustainable growth in the future.
