As selling pressure deepens in the cryptocurrency market, Bitcoin briefly dipped below $90,000 before rebalancing.
However, according to Katie Stockton, founder and managing partner of Fairlead Strategies, the market hasn’t bottomed yet. “The pullback is significant,” Stockton said on CNBC. “This process could be prolonged. There are oversold conditions, but they haven’t yet generated a strong buy signal.”
Bitcoin was last trading at around $93,532, down about 14% in the past month. This sharp decline is parallel to investors shifting away from riskier assets and AI-themed stocks and toward more defensive instruments amid growing economic uncertainty.
US stock markets are also under pressure. The S&P 500 index, heavily weighted towards artificial intelligence companies, fell about 0.5% on Tuesday, on pace for its longest losing streak since August. According to Stockton, this risk-off trend could drag Bitcoin down further, especially in the medium term.
Sharing his technical indicators, Stockton highlighted the $78,000-$80,000 range as a critical area where Bitcoin’s cyclical bull trend could break out. He stated that this level represents a significant “lower bound” for the medium-term outlook.
However, Stockton maintained that the long-term outlook is positive, saying, “There’s no strong resistance to upward movements. Bitcoin generally tends to rise gradually. Medium-term indicators aren’t yet promising, but long-term trends remain solid.”
*This is not investment advice.
Source: https://en.bitcoinsistemi.com/how-much-further-could-bitcoin-btc-fall-katie-stockton-reveals/