The post Will Bitcoin Price Drop to $75,000 Ahead of US CPI Data This Week? appeared on BitcoinEthereumNews.com.

Bitcoin price has crashed by another 4.5% taking a dip to $80,350 levels as market sentiment turns bearish just ahead of the US CPI data release this week. The overall crypto market crash over the last 24 hours has eroded more than $170 billion of investors’ wealth with market analysts predicting more pain ahead. Will Bitcoin Price Crash to $75,000? Bitcoin price has once again come under heavy selling pressure, facing strong rejection at $92,500 and extending weekly losses to more than 11.15%. Popular crypto analyst Ali Martinez noted that over $1 billion in Bitcoin (BTC) long positions were liquidated today. The massive liquidation highlights the intense market volatility currently impacting the cryptocurrency sector. Source: Ali Martinez Bitcoin Forms a Bearish Pennant Says Peter Brandt Veteran trader Peter Brandt has shared a technical analysis suggesting the recent Bitcoin price action confirms a bearish outlook. In the latest chart structure, Brandt has identified three critical technical developments hinting at further downside pressure. Market completes double top. Top retested by pennant. Pennant completed, confirms bearish chart Bitcoin (BTC). Source: Peter Brandt The analysis highlights a double top formation with peaks reaching approximately $108,100, followed by a bearish pennant pattern. According to Brandt, Bitcoin made a “deep retest” of its previous high near $95,321 before breaking down through the pennant formation. The chart also indicates that Bitcoin price found temporary support at $81,513 following the breakdown, but the completion of the bearish pattern suggests further downside potential. Former BitMEX CEO Arthur Hayes also believes that there could be more pain left ahead for BTC. He wrote: “An ugly start to the week. Looks like $BTC will retest $78k. If it fails, $75k is next in the crosshairs. There are a lot of options OI struck $70-$75k, if we get into that range it…

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Filed under: News - @ March 10, 2025 5:23 am