Bitcoin’s price dropped below $100,000 over the weekend, sparking new predictions about its next moves. Some analysts warn of a looming bear market with potential for further declines. One crypto analyst, known as Astronomer on X, shared insights on possible price action and suggested strategic entry points for investors.
Following the recent drop, Astronomer noted that the price decline may not be finished, indicating a potential final dip after a short market reversal. The analyst forecasts a possible pullback to around $95,000, with a bounce up to $110,000 also possible.
Astronomer identified the $97,000 level as a critical area to begin buying, though prices could dip lower. The analyst emphasized that weekend lows are often retested, and since the current weekend low is above $97,000, this zone might serve as a strong support point. Investors who have been sidelined or are new to the market may find this level a good opportunity to enter.
Sentiment and geopolitical developments also factor into the outlook. The recent ceasefire announcement between Israel and Iran has contributed to a market rebound, pushing Bitcoin up to $106,000 and shifting sentiment from fear to greed.
However, Astronomer cautioned against buying during periods of high market euphoria. The analyst advised waiting for a correction to avoid losses and recommended that investors maintain discipline with a clear plan. Missing the chance to buy below $97,000 is not a major concern, but buying at elevated prices driven by fear or hype could be risky.