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\n\t\t\t\t\t\t\t\t\tHow deep can BTC and ETH sink during this bear market?\t\t\t\t\t\t\t\t<\/p>\n<\/p><\/div>\n
At the start of June, the two largest cryptocurrencies by market capitalization tumbled to their lowest levels in years. However, many analysts believe the cycle bottoms have not occurred yet.<\/p>\n
The big question now appears to be whether Bitcoin (BTC) or Ethereum (ETH) will find its floor first, and here\u2019s the take of one popular market observer.<\/p>\n
X user Ted argued<\/a> that the second-biggest cryptocurrency is more likely to bottom before the industry\u2019s undisputed leader. He claimed that most of the downside liquidity has been taken out, projecting a plunge to $1,300-$1,400.<\/p>\n \u201cBut after that, upside liquidity will start to look more interesting,\u201d he added.<\/p>\n<\/blockquote>\n Shortly after, Ted noted<\/a> ETH\u2019s drop below the critical $1,700 mark and warned that the asset could post a further 5-6% decline if it doesn\u2019t reclaim this level.<\/p>\n There are plenty of other analysts who believe the worst for Ethereum is ahead. Ali Martinez said<\/a> the asset is breaking down from its channel and is trading below the 200-hour SMA. That said, he expects a drop toward $1,580.<\/p>\n Niels also claimed<\/a> that ETH hasn\u2019t bottomed for this cycle, predicting a crash to as low as $1,200 sometime this year. At the same time, they see the current price level as a great buying opportunity.<\/p>\n Earlier in June, the primary cryptocurrency plummeted to nearly $59,000 for the first time since late 2024. Ted, like many other industry participants, thinks this was not the bottom.<\/p>\n He spotted<\/a> a massive liquidity cluster around $50,000-$60,000, describing it as the same zone with large BTC buy orders on exchanges. With that in mind, Ted said that the price will likely sink to $50K \u201cwith a possible wick.\u201d<\/p>\n X users bee and Crypto Lens have also made bearish forecasts. The former opined<\/a> that BTC is \u201con the verge of the final flush,\u201d expecting a drop to $51,000-$52,000, while the latter envisioned a downturn to $43,000 by August this year.<\/p>\n However, it\u2019s not all doom and gloom. Certain factors, such as the declining amount of BTC held on exchanges, suggest a rebound is also possible. As CryptoPotato<\/em> reported<\/a>, the figure recently dipped to a six-year low, meaning that investors have abandoned centralized platforms in favor of self-custody, thereby reducing immediate selling pressure.<\/p>\n Meanwhile, whales scooped up<\/a> more than 30,000 BTC in a week: a strong signal that they are positioning for the next rally and something that could encourage retail investors to jump on the bandwagon, too.<\/p>\n LIMITED OFFER for CryptoPotato readers at Bybit: Use this link<\/a> to register and open a $500 FREE position on any coin!<\/b><\/p>\n<\/div>\n<\/div>\n\n
How About BTC?<\/h2>\n
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