Bitcoin (BTC) has undergone a downward trend after reaching a historical peak of $109,114 on January 20 and is under selling pressure. Technical analyses suggest a possible drop in Bitcoin’s price to $73,000, a level some analysts consider the target of the current downtrend. Bitcoin hitting below $75,000 seems imminent. Peter Brandt, a renowned analyst, has pointed out the formation of a double-peak pattern and the confirmation of a downtrend in Bitcoin. Large investors have been accumulating Bitcoin in recent months, but their purchases have not yet had a significant impact on the price. As of now, Bitcoin has fallen below $80,000, showing a 12% decrease from last week. Without new fundamental factors entering the market, Bitcoin’s decline to $73,000 remains likely.
