Bitcoin’s price, oscillating between a crash to $100,000 or a rally to $122,000, is stirring up discussions among crypto enthusiasts and analysts alike. Mark Cullen, a prominent crypto analyst, has presented his strategic insights on how these volatile swings might unfold. His analysis, shared on the social media platform X, paints a picture of a market at a critical juncture.
Cullen’s BTC Game Plan
Mark Cullen’s “Bitcoin game plan” hinges on BTC’s current behavior within a specific trading range. As it fills out the inefficient area between two previous weekly ranges, the path Bitcoin takes next could significantly influence its trajectory. A breakout above $116,000 could pave the way for a bullish surge, potentially pushing the price close to its all-time high of $123,000, and even beyond in the coming weeks. However, it’s not all bullish buzz.
Cullen warns of a potential downturn. If Bitcoin fails to sustain above $111,000 and can’t reclaim $112,000, a descent to $100,000 seems plausible. This scenario has gained traction among other market watchers, including BitMEX co-founder Arthur Hayes. Hayes recently echoed similar sentiments, suggesting that Bitcoin might revisit the $100,000 mark, citing tariff impacts and a dearth of liquidity as contributing factors. The last time Bitcoin saw this level was in late June, before it catapulted to new highs in July. For more on Bitcoin’s potential to rally even higher, see our recent analysis on Bitcoin dip making ‘perfect bottom,’ says analyst: Will BTC rally to $148K?.
The Bearish Possibility
Another voice in the bearish corner is crypto analyst Ali Martinez. He highlights a historical pattern: whenever the weekly RSI dipped below the 14 SMA, Bitcoin corrected by up to 30%. Should history repeat, BTC could plunge to as low as $95,000. It’s a sobering thought amid the current market dynamics, where Bitcoin trades at approximately $114,000, having slipped in the last 24 hours.
Meanwhile, the $112,000 mark is emerging as a pivotal “line in the sand” according to Titan of Crypto. This level is crucial as Bitcoin struggles to break through the bearish Fair Value Gap (FVG) around $114,000. The coming days could reveal whether Bitcoin will succumb to these bearish pressures or rally past the resistance. This aligns with recent observations where Bitcoin fills July CME gap ‘to the dollar’ amid $104K BTC price target, highlighting the precision of market movements.
Historical Context and Market Sentiment
Bitcoin’s journey has been anything but linear. Its recent performance mirrors the broader sentiment in the cryptocurrency market, characterized by sharp rallies and sudden crashes. The crypto community is no stranger to such volatility, but the stakes seem particularly high this time. With influential figures like Cullen and Hayes weighing in, traders are on high alert.
The broader market, too, is feeling the tremors. Ethereum, another heavyweight in the crypto space, is also under scrutiny. Hayes anticipates that ETH might test the $3,000 level, further illustrating the interconnectedness of crypto assets and how Bitcoin’s moves often set the tone for the entire market.
Looking Ahead
As Bitcoin navigates these turbulent waters, the crypto world watches with bated breath. The potential outcomes—be it a crash or a rally—could have profound implications not just for Bitcoin holders, but for the entire market. And while analysts like Cullen and Martinez provide valuable insights, the inherent unpredictability of cryptocurrencies means that surprises could still be in store.
The coming weeks will be crucial. Will Bitcoin break free from its current constraints and soar to new heights, or will it falter and revisit lower levels? Only time will tell, but one thing’s for sure: in the world of cryptocurrencies, nothing is ever set in stone.
Source
This article is based on: Bitcoin Price Crash To $100,000 Or Rally To $122,000? Analyst Shows Game Plan For BTC
Further Reading
Deepen your understanding with these related articles:
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- Bitcoin price eyes $116K liquidity sweep with ETF comeback in focus
- Bitcoin Price Analysis: BTC Troubles Just Getting Started After 3% Daily Decline?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
