10 Reasons Why Bitcoin Could Fall to $55,000

Institutional Crypto Research Written by Experts

Author

Markus Thielen
June 28, 2024

👇1-10) Based on our trend model, Bitcoin entered a downtrend on June 20. Although not every signal is successful, trend-following funds (CTAs) follow a similar strategy and could pile into short positions. Their position size could even increase, especially with declining or low volatility. Realized volatility is just 30%.

👇2-10) Weekly and monthly reversal indicators signal a broader correction. The weekly RSI peaked in early March and has declined despite Bitcoin holding above $60,000. The monthly Stochastics resembles previous multi-month peaks, such as January 2018 and May 2021.

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