Key highlights:
- The Bitcoin price’s cycle bottom is somewhere near the $48k mark, says Bitwise’s Dragosch.
- As BTC hasn’t reached its bottom yet, it could see further downside.
- The $64k-$65k zone remains a critical resistance, according to popular crypto market analyst “Ted”.
After posting significant losses in recent days, the
The Bitwise analyst also highlighted that the recent price movements were least influenced by the slowdown in public holders’ accumulation. He noted that the recent sale of 32 BTC by Strategy, the largest Bitcoin treasury company, hasn’t affected the Bitcoin price much, since the sold amount is only a small fraction of the company’s total BTC holdings.
Key resistance test at $64-$65K
Despite the current positive trend in the Bitcoin market, there are mixed opinions. While many research analysts debate over the Bitcoin price’s bottom formation, other market experts are analysing the coin’s support and resistance.
Ted, a prominent crypto analyst, took to X to share his outlook on the Bitcoin price. According to him, BTC is currently trying to break past the key resistance at $64k-$65k. But he added that buyers are struggling to push the price higher.
$BTC is trying to break above the $64,000-$65,000 level but has failed so far.
A successful reclaim of this zone could push Bitcoin towards $68,000.
A rejection will increase chances of sweeping lows around $60,000. pic.twitter.com/VR5wqTKKzJ
— Ted (@TedPillows) June 12, 2026
Thus, he identifies this as a significant hurdle for the Bitcoin price’s sustained rally. If BTC manages to surge above this level, it could soon hit $68k, he added. At the same time, if it fails to reclaim this level, it could drop to $60k.
Source:: Bitcoin Price May Drop 20%, Bitwise Analyst Flags $48K ‘Max Pain’ Level