Key Bitcoin price metrics say BTC bottomed, but traders still fear a drop to $10K

Cointelegraph

Published Jun 28, 2022 04:41PM ET

Updated Jun 28, 2022 06:20PM ET

The crypto market is currently going through a period of heightened volatility as global economic conditions continue to worsen amid a backdrop of rising inflation and interest rates.

As the headwinds impacting global financial markets beat down all traces of bullish sentiment, many crypto investors are predicting that Bitcoin (BTC) price could drop to as low as $10,000 before a market bottom is found.

BTC/USDT 1-day chart. Source: TradingView
Historical drawdowns for Bitcoin. Source: Arcane Research
Brave new coin index for Bitcoin (BLX) 1-month chart. Source: Delphi Digital
Bitcoin bear market floor models. Source: Glassnode
BTC/USD 1-month chart. Source: Twitter (NYSE:TWTR)

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