TechFlow news: On February 2, according to CoinDesk, Bitcoin’s price plunged sharply over the weekend, falling below $78,000—the lowest level since April—and triggering a wave of liquidations. Analyst Eric Crown warned that this decline could be part of a broader bearish pattern, with Bitcoin potentially facing further downside for several months.
Crown noted that Bitcoin has been trading sideways and downward since late October, and its monthly Moving Average Convergence Divergence (MACD) indicator generated a bearish crossover in November—a rare signal that, in past cycles, has preceded deeper corrections. He forecasts Bitcoin could fall to the $50,000–$60,000 range, which he views as a more attractive zone for accumulating long-term positions. Options market data shows traders are increasingly betting on prices falling below $75,000 while abandoning bullish bets targeting $100,000.
