‘Bitcoin Is Not Looking Great’: Why Top Analysts Are Warning BTC Could Plunge Further

Bitcoin tried and failed at $76,000 last week and $72,000 a few days ago. It was rejected in its tracks at both attempts, and the Friday correction pushed it south to a four-week low of $65,500. Although it has recovered some ground since then and currently trades above $66,000, most analysts on X believe the asset is not out of the woods yet and predict at least one more leg down. Not Looking Great Michaël van de Poppe was among the first to outline BTC’s fragile state, stating that “Bitcoin is not looking great.” In a recent post on X, MN Fund’s founder said the cryptocurrency is following a familiar pattern and will likely “hang here for a bit, before continuing to sweep the lows further down the line.” He noted that the $60,000 support will come into focus, which would be his ideal area for opening long positions. Interestingly, another analyst, Jelle, recently noted that he would start buying BTC if it drops even further south, to around $50,000. Van de Poppe, though, asserted that his theory will be invalidated if BTC rebounds decisively and breaks past $71,000, which will “clearly” change the perspective. #Bitcoin is not looking great. The same procedure as during the previous consolidation. It will likely hang here for a bit, before continuing to sweep the lows further down the line. If that happens, a sweep of $60K is the ideal area for longs on this one. Now, what is going… pic.twitter.com/BvCVPmY648 — Michaël van de Poppe (@CryptoMichNL) March 28, 2026 CryptoQuant also wrote about bitcoin’s potential bottom during this cycle recently, and concluded that “it’s still too early” to determine BTC has reached it. The analysts explained that “structural signals” that could solidify a conclusive transition from a medium- to long-term downtrend into an uptrend have yet to clearly emerge. Altcoin Sherpa’s opinion aligned with van den Poppe’s, suggesting that BTC could find some temporary relief, but it could “test the $62Ks eventually.” Touched DCA Zone While a...