Bitcoin Price Decline Triggers Concerns Amid Large Outflows

Bitcoin's recent decline has sparked concerns about its future performance. The cryptocurrency has fallen by 2.3% to $68,674 amidst large outflows from crypto funds, which could potentially impact its price.

A trendline analysis by Stifel Financial suggests that the current price of Bitcoin could drop further to $38,000, a 43% decrease from its current level. This prediction is based on 15 years of bear market data, where each major crash since 2010 has formed an upward-sloping floor.

However, some analysts disagree with this assessment. JPMorgan predicts that Bitcoin could reach $170,000 within the next six to twelve months, while others estimate it will surpass $200,000. Tom Lee at Fundstrat is targeting a price range of $200,000 to $250,000 by the end of 2026.