Will Bitcoin's Decline Continue? Analysts Said 'Risk Continues', Announced Risky Level!

Led by Bitcoin (BTC), altcoins experienced a major decline, plunging the cryptocurrency market into turmoil.

According to Coinglass data, liquidations exceeding $2 billion occurred over the past 24 hours, eclipsing those witnessed during the COVID-19 and FTX crises.

Despite the sharp sell-off, investors remain concerned about Bitcoin's potential to fall further. Options data from the cryptocurrency exchange Derive indicates an increasing probability of Bitcoin reaching $75,000 by March 28th.

Derive analysts attribute this rise in probability to recent tariffs imposed by the US on Canada, Mexico, and China, which could exacerbate inflation and dent sentiment toward the cryptocurrency market.

“Trump's recent tariffs, including a 25% surtax on imports from Mexico and Canada and a 10% surtax on Chinese goods, are likely to increase inflation,” said Derive analysts. “This could undermine investor confidence in cryptocurrency markets. However, we are also seeing a number of active spot ETF applications from major players like Bitwise and Grayscale for assets like Dogecoin (DOGE), Solana (SOL), XRP, and Litecoin (LTC). If the SEC approves these, it will signal more legitimacy for the digital asset sector and trigger more capital inflows, potentially pushing prices higher.”

Former BitMEX CEO Arthur Hayes recently predicted that BTC would first drop to around $75,000 before initiating a larger bull run.

Caution: This information does not constitute investment advice.