Bitcoin price falls to $67k as popular analyst predicts major crash
Bitcoin stands near $67,000 after partially recovering from all-time highs. On-chain data shows that half of the BTC is held at a loss, which indicates market weakness. The analyst warns that a deeper correction is likely, below around $45,000.
Bitcoin's latest recovery attempt has stalled below $70,000, which would bring the cryptocurrency back to $67,250 at press time.
The fall comes as the broader crypto market struggles to maintain its upward momentum after a volatile few months.
After reaching an all-time high of $126,080 in October 2025, Bitcoin (BTC) has now recovered almost half of its value.
All eyes are now on the cryptocurrency as it seems to be nearing $67,000 after a steep decline.
Analyst Willie Woo warns of further downside
Well-known on-chain analyst Willie Woo predicted a major price correction following the latest plunge.
He estimates that the bottom of the bear market could reach $45,000, and extreme conditions could test $30,000 or below.
Woo's caution is that liquidity in the spot and volatility markets is declining, which historically reduces the strength of rallies.
It suggests that Bitcoin may briefly rise to the mid-$70,000 range before facing renewed downward pressure.
Signs on the chain suggest market weakness
On-chain metrics suggest that Bitcoin may be entering a bear market cycle later than the initial phase.
About half of the total BTC circulation, about 9.2 million coins, is currently held in bankruptcy, according to the latest weekly report by on-chain analytics firm Glassnode.
Historically, such levels indicate significant selling pressure and potential, but for long-term holders, the rate of accumulation signals that the market is beginning to stabilize.
Some analysts see these patterns as signs that bitcoin's price may be nearing the bottom rather than starting a long-term decline.
The balance between those in profit and those in loss is an important measure of market sentiment, and although short-term volatility remains high, it indicates that there is fundamental support at current levels.
Bitcoin ETF earnings show cautious optimism
Institutional investors have recently returned to the market, with Bitcoin ETFs posting more than $1 billion in net inflows in just a few days.
This move follows a period of withdrawals totaling nearly $3 billion, indicating that some investors see the current price as a buying opportunity.
Spot ETFs, particularly long-term investors, seek exposure to Bitcoin.
The renewed interest shows that despite the retreat from all-time highs, there is confidence in the asset's long-term prospects.
However, going in doesn't guarantee continued upside.
Short-term technical indicators suggest that Bitcoin is trading near the top of a tight consolidation zone between $67,000 and $68,000, and a break above this zone could trigger a rally, although a rejection could force the price back to $63,000 or below.
