NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Price To Recover $100,000: BTIG Cites Key Reasons For Optimism

Why Crypto Could Go Another 15% Lower, This Expert Says

Reynaldo Marquez
Reynaldo Marquez
Last Updated: June 17, 2022 4:43 pm
2 mins read
Crypto coins

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Crypto has dropped below the $1 trillion total market capitalization and has returned to its January 2021 levels. At that time, the sector was preparing for a massive bull run that would take its market cap above the $3 trillion.

Related Reading | Anthony Scaramucci Reveals Buying Crypto During Crash, Suggests Staying Disciplined

This time the sector seems to be threatening further losses and for a potential new leg down into its 2020 levels. At the time of writing, the total crypto market cap stands at $870 billion and continues to trend to the downside on the daily chart.

Crypto total market cap Bitcoin
Total crypto market cap trends to the downside on the daily chart. Source: Tradingview

Analyst Justin Bennett believes the sector will “imminently” take a leg lower. He expects the market to find support at $730 billion as it was unable to hold above the $860 billion mark.

The current market conditions, the shift in the U.S. Federal Reserve (Fed) monetary policy, the relentless selling pressure, and the series of negative news in the space seem to support this thesis. Sharing the chart below, Bennett said:

The next leg lower looks imminent. This is where we’re probably going. Another 15-25% to reach the TOTAL confluence of support and measured objective. Expect a 30% drop for most altcoins.

As usual, Bitcoin holds the key for the entire crypto sector as most altcoins tend to follow BTC’s price action. Bennett claims the number one crypto by the market could see a similar 15%-25% drawdown if it breaks the $20,000 area.

This would send BTC’s price to its next critical support zone at around $19,850 and for the first time in its history below its previous all-time high.

On lower timeframes, data from Material Indicators (MI) records over $15 million in buying orders for BTC at $20,000. In the opposite direction, there are around $9 million in asks orders at around $20,900 which could operate as resistance in the short-term.

Bitcoin BTC BTCUSD Crypto
Source: Material Indicators

Will Bitcoin Bounce With The Stock Market?

The benchmark cryptocurrency has been moving in tandem with traditional equities, mainly the Nasdaq 100 Index and the S&P 500. According to Jurrien Timmer, Director of Macro for investment firm Fidelity, the S&P 500 has reached oversold levels. He said:

The weekly stochastics for the SPX: It’s at oversold readings consistent with major bottoms. I don’t believe we’re there yet but we could be getting close. We’re only 1 P/E point away from fair value.

Related Reading | TA: Bitcoin Remains In Downtrend, Risk of Drop Below $20K

If equities find a bottom soon, as Timmer claims, Bitcoin and the crypto market could bounce and prevent Bennett’s scenario. The drawdown in traditional finances has created a capitulation event, as seen below, which could play in favor of digital assets.

A quick take on technicals: signs of capitulation are starting to show. We can see it here…1/ pic.twitter.com/1SSYFCj8ir

— Jurrien Timmer (@TimmerFidelity) June 17, 2022

Tweet123Share196ShareSend
Reynaldo Marquez
Reynaldo Marquez

Reynaldo Marquez

A literature major, Reynaldo Márquez has been deeply immersed in the crypto industry since 2017. His journey began with translating articles for various crypto news outlets, a role he took on with zeal. In 2018, amidst a challenging market, he embraced his first writing assignment, demonstrating his unwavering commitment to the nascent industry and the promise of change it bears for many people worldwide.
In March 2021, he joined the prestigious crypto news outlet NewsBTC and Bitcoinist, where he not only reported on the latest crypto news but also had the privilege of interviewing some of the industry's most influential figures. A year later, his dedication and hard work were recognized, and he was promoted to Managing Editor, a position he currently holds with pride.
He believes in honesty, good communication, hard work, and the power of cryptocurrency and its potential to transform people's lives, especially those alienated by the legacy financial system. Born in 1992 in Venezuela, Reynaldo is familiar with how governments and central banks can negatively affect people, their everyday lives, and their futures by creating inflation and erasing their hopes for a better future. Thus, like many Venezuelans, he embraced this new technology to help him and his family navigate difficult times.
In another life, Reynaldo would have pursued a career as an investigator, most likely tracking down the origins of the Cyberpunk movement with the publication of William Gibson’s ‘Neuromancer.’ The intersection between fiction and reality, with the materialization of Bitcoin in 2009, would have allowed him to dive deep into the crypto sphere as something more than a financial phenomenon but also a cultural shift in society that was brewing since the XX century, and maybe even sooner, in the XIX century with the publication of Henry David Thoreau’s ‘Civil Disobedience.’
But that’s for another life. In this one, Reynaldo has been trading to improve his trading skills. Since 2023, he has been trying to learn Python to create successful strategies and find ways to execute them. It is a difficult task, which continues to keep him busy today and will most likely continue to keep him busy in the near and long term.
In his free time, he enjoys lifting heavy objects, reading, watching movies, and listening to his favorite music. Some of his favorite authors are Walt Whitman, William Faulkner, Allen Ginsberg, James Baldwin, Raymond Carver, Ray Bradbury, George Orwell, Mario Vargas Llosa, Reinaldo Arenas, Rafael Cadenas, and many others. Lately, he has been primarily interested in reading about dystopic societies, a topic that deeply resonates with the crypto industry.
Since 2023, he has lived in Spain with his wife. He loves the weather, the food, and the people and their culture. They both expect to travel much more within the country they now call home and beyond its border. He hopes to retire with his wife, maybe in a quiet place near a beach, but most likely in a city close to a library and a university with his kids and, hopefully, grandkids.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

加密圈下一個“RollerCoin”?PepeNode 的 GameFi 新玩法初現熱度 早期勢頭強勁

加密虛擬挖礦遊戲 RollerCoin 曾風光一時,但一位更具野心的新挑戰者PepeNode (PEPENODE)正帶著更宏大的敘事走到聚光燈下。 PepeNode 直擊早期挖礦模擬器的痛點:更強的代...

newsbtc 3 hours ago
Bitcoin

Bitcoin Trail Ends: $29M Seized After European Authorities Shut Down Cryptomixer

Authorities in Europe have shut down a large crypto mixing service and seized a major amount of Bitcoin, according to...

Christian Encila 3 hours ago
hardcore-poker-strategy-winning-tips

骨灰級玩家的德州撲克盈利心得:位置、概率、心理的策略

從線下牌桌一路磨到線上高額桌,經歷十多年對局後,更能感受到德州撲克並非一般人以為的“靠運氣賭博”。真正的高手靠的是資訊優勢、概率計算、行為判斷與長期紀律。大多數玩家失敗,不是因為牌差,而是因為他們不理...

newsbtc 4 hours ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Strategy

Bitcoin Slump Claims New Victims: Leveraged ETFs Tied To Strategy Suffer Major Losses

Ronaldo Marquez 55 minutes ago
Bitcoin

Bitcoin (BTC) Price In A ‘Vulnerable Technical Environment’ – Key Levels To Watch

Rubmar Garcia 1 hour ago
Bitcoin Liquidation Dominance Hits Multi-Year High: The Real Cause Behind BTC’s Breakdown

Bitcoin Liquidation Dominance Hits Multi-Year High: The Real Cause Behind BTC’s Breakdown

Sebastian Villafuerte 2 hours ago

Premium Sponsors

Press Releases

  • ETHが2,800ドル付近で停滞、次の重要局面はどこか

    ...

    13 hours ago
  • 市場不安の中で見える次の価格シナリオとは

    ビットコイン...

    13 hours ago
  • アルトコイン 注目銘柄:Cantor Fitzgerald の Solana ETF 計画で浮上する買い候補とは

    アルトコイン 注目銘柄:Cantor Fitzgerald の...

    15 hours ago
  • シバコイン...

    15 hours ago
  • ドージコイン 今後:専門トレーダーが予測する大幅反発の可能性とは

    ドージコイン...

    16 hours ago

Newsletter

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.