Bitcoin Price Prediction: Analysts Debate Short-Term Reset Or Long-Term Growth

Key Insights:

• Analysts remain divided on whether Bitcoin has already found its market bottom.
• Benjamin Cowen expects a drop to $70,000 before a possible short-lived rebound.
• New data suggests the derivatives market has not fully recovered from the October liquidation event.

Bitcoin price prediction is back in focus after several market analysts shared different views on where the world’s largest cryptocurrency could head next. While some expect another drop before a recovery begins, fresh market data suggests traders are still feeling the effects of a major sell-off that shook the derivatives market months ago.

Bitcoin Price Prediction Sees Possible Move to $70,000

Crypto analyst Benjamin Cowen believes Bitcoin could fall further before finding support. In a post on X, Cowen said short-term price movements are difficult to predict because markets often move in ways that are hard to explain in advance.

Even so, he shared what he thinks may happen next. His view is that BTC price could soon touch the $70,000 level. If that happens, he expects a small rebound to follow. According to him, that bounce may last only a few days or perhaps a week. After that, Cowen thinks the market could head back toward the lows seen in February 2026.

He also made it clear that he is not presenting his view as a certainty. Cowen said that if Bitcoin does not return to those February levels, he will publicly admit he was wrong. The comments quickly attracted attention because many traders are already divided over the market’s direction.

Bitcoin Price Short-Term Prediction | Source: Benjamin Cowen

Some believe the worst of the decline is over. Others think another drop is needed before a stronger recovery can begin. That difference in opinion has become more noticeable in recent weeks as the Bitcoin price struggles to convince investors that a lasting bottom is already in place.

PlanB Says Market May Not Have Reached Bottom Yet

Another market participant, PlanB, is also taking a cautious position. After noting that the Bitcoin price closed May at $73,568, he pointed to the ongoing debate among investors.  As of writing, it is trading at $72,566.04.

One side believes the February low near $60,000 was the bottom. The other believes the downtrend could continue. PlanB said current market data does not yet show what he considers a proper bottom formation.

Bitcoin Price Monthly Close Analysis | Source: PlanB

Because of that, he believes there is a greater than 50% chance that prices could still move lower. Two levels stand out in his analysis. The first is the 200-week moving average, which sits around $61,000. The second is the realized price, currently near $53,000.

Both Bitcoin price levels are closely watched by traders looking for signs of where support may appear if selling pressure increases again. His view adds to the growing uncertainty across the market. Although some investors remain hopeful that a new uptrend is forming, others are waiting for stronger evidence before changing their outlook.

October Liquidation Shock Still Showing in Market Data

Market analyst Darkfost believes the derivatives market has not fully recovered from the October 10 liquidation event. According to data he shared, nearly 71,000 BTC disappeared from open interest on major exchanges that day.

More than $11 billion in positions were liquidated or closed within a few hours. Months later, open interest has not yet returned to its pre-event level.

On October 9, total open interest outside CME stood close to 375,000 BTC. Today, that figure is around 351,000 BTC. That leaves a gap of more than 24,000 BTC. The picture changes when Binance is examined on its own. Darkfost said Binance now holds more open interest than it did before the liquidation event.

The exchange has also increased its market share from about 30% to over 36%. For now, the data tells two different stories. The wider derivatives market is still below its previous level, yet trading activity has become more concentrated on Binance. Notably, as traders watch price movements closely, the debate over Bitcoin price prediction continues with no clear agreement on what comes next.

The post Bitcoin Price Prediction: Analysts Debate Short-Term Reset Or Long-Term Growth appeared first on The Coin Republic.