Analysts are divided on the future of Bitcoin, with some optimistic due to favorable regulatory signals and institutional support, while others are cautious about a potential reversal.
A middle-ground perspective suggests a major downturn is unlikely without a disruptive event, despite growing technical risks in the market.
However, warning signs from the charts indicate a failure to break through key resistance levels, with concerns about a possible double-top formation signaling a significant downturn.
Veteran analyst Peter Brandt warns that if Bitcoin breaches key support near $75,000, it could confirm the double-top scenario and lead to a sharp drop, although such a scenario may not be the most likely outcome unless an unexpected crisis occurs.