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Significant Retreat Expected for Bitcoin as Analyst Forecasts a Drop Below Crucial Support, Triggering a Potential Downturn
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From the Hodl Desk:
An analyst, otherwise known as Capo, who successfully predicted the 2022 crypto collapse, is sounding the alarm for Bitcoin (BTC). This analyst warns that if Bitcoin fails to hold onto a critical support level, it could plummet more than 37% of its current value.
Capo spoke to his massive 1.08 million followers on X, stating that the safety net for BTC lies between $92,000 and $93,000[3]. Essentially, a Bitcoin decline below this range could prove catastrophic, potentially dragging the price down to as low as $60,000[3]. Capo goes on to say that while this resistance persists, altcoins may continue to surge. However, he advises taking profits soon[3].
At the time of writing, Bitcoin is trading at $96,608, up 2.6% in the last 24 hours[1]. In other developments, our analyst is bullish on the GPU rendering network altcoin Render (RENDER). Based on his analysis, Render is poised to hit $6.58[3]. Render is currently trading at $4.65, up 4.7% on the day[2].
Follow us on X, Facebook, and Telegram for the latest crypto insights. Stay ahead of the game and don't miss a beat. Check our Price Action and The Daily Hodl Mix for the most current news.
Industry Announcements:
- BC.GAME launches Phase 2 of its Social Mining Campaign to expand its ecosystem, aiming to boost user engagement with the $BC token[4]
- KuCoin CEO BC Wong joins industry leaders at TOKEN2049, emphasizing a path toward a safer and smarter crypto future[5]
- aZen secures a $1.2 million seed round and web 3.0 grants for the development of DePIN, a platform designed to foster ubiquitous AI after onboarding 600,000 users[6]
- Bitcoin Seoul 2025 prepares to bring together global industry leaders for Asia's largest Bitcoin-focused conference[7]
- FLOKI and Rice Robotics announce the launch of an AI companion robot offering token rewards[8]
- STEPN and the Argentina Football Association reveal their latest NFT drop[9]
- BYDFi partners with Ledger to launch a limited edition hardware wallet, debuting at TOKEN2049 Dubai[10]
The Daily Hodl Mix:
- Bitcoin could soon reach all-time highs as capital inflows into BTC increase, according to analyst Willy Woo[11]
- Trump's World Liberty Financial secures an agreement with the Pakistan government to promote crypto innovation[12]
- Macro analyst Luke Gromen offers insights into how Bitcoin could boost demand for US Treasuries[13]
- Swissblock announces a bull run setup for Bitcoin, based on significant accumulation by two investor groups[14]
Tune in for more!
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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should conduct their own due diligence before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets. Remember, your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl is not an investment advisor.
Featured Image: Shutterstock/WhiteBarbie/kryzhov
Industry Announcements:
- BC.GAME launches Phase 2 of Social Mining Campaign, expanding ecosystem engagement with $BC token
- KuCoin CEO BC Wong joins industry leaders at TOKEN2049 - Highlights Path Toward a Safer, Smarter Crypto Future
- aZen Secures $1.2 Million Seed Round and Web 3.0 Grants To Build DePIN for Ubiquitous AI After Onboarding 600,000 Users
- Bitcoin Seoul 2025 To Host Global Industry Leaders for Asia's Largest Bitcoin-Focused Conference
- FLOKI and Rice Robotics Launch AI Companion Robot With Token Rewards
- STEPN and the Argentina Football Association Announces Their Latest NFT Drop
- BYDFi Partners With Ledger To Launch Limited Edition Hardware Wallet, Debuts at TOKEN2049 Dubai
$*$*94,093.211.46%$*$*1,804.101.39%$*$*593.890.1%$*$*144.190.99%$*$*2.142.12%### Spotlight:Bitcoin Setting Up for Break of All-Time Highs As Capital Flows Into BTC Ramp Up, Says Analyst Willy Woo
Trump's World's Liberty Financial Signs Agreement With Pakistan Government To Promote Crypto Innovation: ReportHere's How Bitcoin Could Boost Demand for US Treasuries, According to Macro Guru Luke GromenBull Run Setup Forming for Bitcoin Amid Significant Accumulation From Two BTC Investor Cohorts, Says Swissblock
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- The analyst Capo, known for predicting the 2022 crypto collapse, warns of a potential 37% drop for Bitcoin (BTC) if it fails to maintain a critical support level around $92,000-$93,000, which could pull the price down to $60,000.
- In contrast to the Bitcoin warning, our analyst is bullish on the GPU rendering network altcoin Render (RENDER), predicting it could reach $6.58 based on current analysis, with Render currently trading at $4.65.
- Stay up-to-date on the latest crypto insights by following Unfiltered Crypto Hodl on X, Facebook, and Telegram.
- It is essential to remember that the opinions expressed at The Daily Hodl are not financial advice, so investors should conduct their own research before making any high-risk investments in Bitcoin, cryptocurrencies, or digital assets.
