Analysis: BTC may fall to the $70,000 to $80,000 range, with few obvious positive catalysts in the short term

PANews reported on March 10 that Jeff Mei, chief operating officer of BTSE, said in an interview with CoinDesk that geopolitical and economic uncertainty is prompting institutions to reduce their holdings of crypto assets, and Bitcoin may fall to the range of $70,000 to $80,000 in the next few weeks. He noted that only when the tariff war ends and the Fed resumes cutting interest rates, the main cryptocurrencies are likely to return to their previous all-time highs. In addition, Augustine Fan, Head of Insights at SignalPlus, expressed a pessimistic view of Bitcoin's technical outlook. He believes that the current price action is technically very negative, with high realized volatility further worsening Bitcoin's risk-adjusted performance, and there are few clear positive catalysts in the near term. CoinDesk's analysis also pointed out that Bitcoin is testing the 200-day simple moving average (SMA), and a break below this key support line could mean a break of an important trend line. Both market sentiment and technical sentiment are showing greater downward pressure.