While the crypto market is attempting to establish itself in a new cycle, Senior Strategist at Bloomberg Intelligence Mike McGlone has published an updated Bitcoin price outlook. His key thesis remains unchanged: Bitcoin retains the risk of returning to the $10,000 level — a level the analyst calls a “fundamental anchor.
In the middle of a surge higher following President Trump's overnight comments, the price of WTI crude oil quickly fell nearly $6 per barrel on the news.
Bitcoin (CRYPTO: BTC) is down 3%, sinking below $67,000 after President Trump's Iran war address signaled further escalation over the next two to three weeks, pushing crude oil above $104 per barrel on Thursday. Trump Doubles Down Markets climbed hours before Trump's speech, pricing in hopes for de-escalation and resumed oil supplies through the Strait of Hormuz.
Will Bitcoin defend the $65K support as aggressive whale sell-off hits a yearly average of 188K BTC?
VanEck's Head of Digital Asset Research Matthew Sigel is turning more bullish on Bitcoin (CRYPTO: BTC) as the derivatives market reaches the 99th percentile for protection demand — a long signal, according to Sigel. The Derivatives Flip “What's happened in the derivatives market for Bitcoin leaves me much more bullish,” Sigel told Anthony Pompliano on Wednesday.
Riot Outflow: Arkham flagged a 500 BTC transfer linked to Riot, adding to rising sell‑side activity among listed miners during a volatile market phase. Sector Trends: Riot's move aligns with broader miner sales, including MARA's $1.1 billion disposal and Empery Digital's 1,795 BTC transfer, while some firms like Metaplanet continue accumulating.
Analysis warned that Bitcoin risked falling to $10,000 in the long term as BTC price action fell with US stocks thanks to oil-supply concerns.
BTC has entered a phase of consolidation after a sharp decline from January highs near $100k. The price action shows that BTC has been respecting a broad ascending channel.
Bitcoin can't break free. The cryptocurrency traded between $65,725 and $66,230 on Thursday morning while sellers maintained their grip on the market, keeping prices well below the critical $69,000 resistance level that's been haunting traders for weeks now.
If macro risks ease, particularly the U.S.-Iran conflict, bitcoin could bounce toward $71,500–$81,200 in the short term, CryptoQuant said.
On Thursday, just before 10 a.m. Eastern time, bitcoin traded between $65,725 and $66,230 over the last hour, within a 24-hour range of $65,934 to $69,074. Market cap held above $1.31 trillion while volume came in at $45.26 billion. Bitcoin Chart Outlook On the daily chart, bitcoin is consolidating inside a longer-term downtrend.
Bitcoin is collapsing. The cryptocurrency loses 23.8% in the first quarter of 2026, marking its worst quarterly performance since 2018.