Crypto analyst Tony Severino has revealed a historical bearish pattern that 
could send the Bitcoin price to as low as $42,000. This bearish outlook for 
BTC comes amid a rebound for the flagship crypto, with a recent surge above 
the psychological $90,000 level. Bitcoin Price Risks 50% Drop To $42,000 Based 
On This Pattern In an X post, Severino stated that the Bitcoin price likes to 
retrace to subwave 3/4 of wave 3/4 of its impulse. Based on this, the analyst 
indicated that BTC could crash to as low as $42,000 on wave C of this move to 
the downside. His accompanying chart showed that this decline could happen 
sometime at the start of next year. Related Reading: Bitcoin Price Can Hit 
These ‘Realistic’ Bullish Targets Before The Bear Market Begins This bearish 
Bitcoin price prediction comes amid BTC’s rebound above $90,000 following the 
end of quantitative tightening (QT) by the U.S. Federal Reserve. The flagship 
crypto has also rebounded amid optimism of another rate cut at this month’s 
FOMC meeting. CME FedWatch data shows there is almost a 90% chance that the 
Fed will lower rates again this month. However, despite these macro positives 
for the Bitcoin price, analysts such as Tony Severino have suggested that BTC 
is in a bear market and is likely to trend lower in the coming months. In an X 
post, he highlighted the BTC monthly chart, suggesting it showed a subtle 
volume breakout that confirmed a “not-so-subtle” trendline breakdown. 
Meanwhile, market technician JT described statements that the QT ending is 
bullish for the Bitcoin price as being a “fallacy.” He alluded to the 
possibility that the Bank of Japan (BOJ) may hike rates this month as one of 
the stressors to liquidity beyond QT. Peter Brandt Predicts Drop To Mid $40ks 
In an X post, veteran trader and analyst Peter Brandt predicted that the 
Bitcoin price could drop to mid $40,000. He stated that the upper boundary of 
the lower green zone starts below $70,000 and that the lower support boundary 
is in the mid $40,000. Notably, Brandt had previously predicted that BTC could 
drop to around $50,000 before it then rallies to around $200,000 in the next 
bull market. Related Reading: Bitcoin Price Breaks Below 50-MA For The First 
Time This Cycle, Why A Crash To $38,000 Could Be Coming The veteran analyst 
noted that there have been five major bull market cycles for the Bitcoin price 
since its inception. He further stated that in all previous cycles, the 
violation of the dominant parabolic advance has been followed by a 75% plus 
correction with no exception. As such, he expects BTC to undergo another 
significant correction in this cycle, potentially dropping below $50,000. At 
the time of writing, the Bitcoin price is trading at around $93,000, up almost 
7% in the last 24 hours, according to data from CoinMarketCap. Featured image 
from Pngtree, chart from Tradingview.com

This Subwave Says Bitcoin Price Is Headed For A 50% Crash To $42,000

Ostium&#8217;s funding boost could accelerate the integration of traditional 
commodities with decentralized finance, enhancing market accessibility.
The post Arbitrum-based DEX Ostium secures $20M funding to scale its crypto 
and real-world asset trading appeared first on Crypto Briefing.

Arbitrum-based DEX Ostium secures $20M funding to scale its crypto and real-world asset trading

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Bitcoin is showing signs of tactical muscle this week, trading at $92,830 to 
$93,115 with a market capitalization of $1.852 trillion and a robust 24-hour 
trading volume of $90.48 billion. Despite swinging between $87,088 and $93,928 
in the past day, the king of crypto is flexing beneath a critical resistance 
ceiling, plotting its next move […]

Cryptocurrency price in SAR