Analysts predict that Bitcoin (BTC) could potentially fall to $70,000 in the coming ten days, largely influenced by concerns surrounding a US trade war's impact on investor sentiment towards risk assets. Timothy Peterson, a network economist, indicated in his latest analysis that Bitcoin's price could return to its 2021 all-time high, suggesting that $70,000 might represent a "practical bottom" for the cryptocurrency. Peterson referred to a chart comparing Bitcoin's bear markets, using a metric called the Lowest Price Forward (LPF), which has a history of accurately predicting price bottoms. While he clarified that this chart does not serve as a prediction, it offers data-driven expectations for Bitcoin's future movement. If Bitcoin follows historical trends, the $70,000 mark could be seen as a reasonable bottom based on the 75th percentile of bear market behavior. The immediate outlook for Bitcoin appears pessimistic, with Peterson noting a stark decline in market expectations. His analysis showed a rapid shift from a 75% likelihood of a positive month for Bitcoin to a 75% probability of a negative month within just two days. In addition to Peterson's warnings, on-chain analytics firm Glassnode has reported an increase in the demand for downside protection within the options market, signaling heightened fear among traders. Interestingly, while the market has faced pressure, Bitcoin has not experienced the same dramatic decline seen in equities following trade tariff announcements, suggesting that while panic levels are rising, the price stability may indicate a potential bottom. In summary, while predictions for Bitcoin's future prices may vary, signs point to a period of volatility where $70,000 could be a critical threshold in the near term. Investors are advised to proceed with caution, recognizing the inherent risks involved in trading and investing in cryptocurrency markets.

Analysts are forecasting that Bitcoin (BTC) may drop to $70,000 within the next ten days, largely due to concerns regarding the impact of the US trade war on investor sentiment surrounding risk assets. Timothy Peterson, a network economist, suggests that this potential decline could bring Bitcoin back to its all-time high from 2021, marking $70,000 as a "practical bottom" for the cryptocurrency. Peterson utilized a metric known as the Lowest Price Forward (LPF) in an analysis, which has historically been effective in predicting price bottoms in the Bitcoin market. He stated that while the chart he presented does not constitute a direct prediction, it provides data-driven expectations for Bitcoin's potential movement. According to historical trends, following the 75th percentile of bear market behavior might support the notion that $70,000 is a reasonable bottom. The outlook for Bitcoin seems increasingly pessimistic, as Peterson observed a drastic shift in market expectations regarding price momentum. He detailed a rapid change from a 75% probability of a positive month to a 75% chance of a negative month within just two days. Adding to the bearish sentiment, on-chain analytics firm Glassnode reported a spike in demand for downside protection within the options market, indicating heightened fear among traders. Despite market pressures, Bitcoin has not witnessed the same severe decline seen in equities following trade tariff announcements, which suggests that rising panic, coupled with price stability, may signal a potential bottom. In conclusion, while there are varying predictions about Bitcoin's future price movements, many indicators point towards significant volatility in the near term, with $70,000 serving as a critical threshold. Investors are advised to remain cautious and aware of the inherent risks associated with trading and investing in the cryptocurrency market.