Bitcoin just crashed below a key level — analysts warn it could sink toward $94,200 next

Katie Stockton, founder and managing partner at Fairlead Strategies, says that Bitcoin could take further plunges in the coming weeks, as she wrote in an internal note that Bitcoin has fallen below its 200-day moving average of $109,800 — a key level that traders use to understand long-term trends.

The 200-day moving average is seen as a strong support zone for Bitcoin, meaning prices usually bounce from it — but this time, Bitcoin has slipped below it, showing weakness in the market. As per MarketWatch, Stockton warned, “We assume the corrective phase will keep hold of bitcoin for another few weeks,” based on her analysis of technical indicators.

Bitcoin support level and price warning

Stockton also said Bitcoin’s next support level is around $94,200, suggesting that the cryptocurrency could fall further before finding stability. However, Stockton mentioned that Bitcoin’s long-term momentum still looks positive and if the correction ends, the next upside target could be around $134,500.

Bitcoin price fall and investor reaction

On Monday, Bitcoin dropped 3.9%, trading near $106,400, as some large holders sold part of their coins, according to blockchain data. Analysts at crypto trading firm QCP said it’s unclear why Bitcoin fell and added, “Recent selloffs, including today’s, came with no clear macro catalyst.”

The drop below the 200-day line has worried investors because it can mean Bitcoin might fall more for a short time. But experts say if Bitcoin goes back above that level soon, its long-term growth can still stay strong.

FAQs

Q1. Why did Bitcoin fall below the 200-day moving average?

Bitcoin dropped below $109,800 as large holders sold coins, but analysts said there was no clear macro reason for the fall.

Q2. What is Bitcoin’s next target price after the drop?

Analyst Katie Stockton said Bitcoin’s next support level is around $94,200, though long-term trends still look positive.