Recent predictions from a well-known crypto influencer, Crypto Bitlord, have sparked concern as he forecasts that Bitcoin’s price could plummet to around $30,000. This warning follows a violent sell-off that has swept through global financial markets, erasing trillions of dollars in value and prompting analysts to reassess their outlook on cryptocurrencies.
Crypto Bitlord took to social media, emphasizing that $30,000 stands as a crucial support level for Bitcoin. His ominous statement has been echoed by prominent figures in the field, including Benjamin Cowen, the founder of the analytics platform Into The Cryptoverse. In a recent YouTube video, Cowen explained that Bitcoin’s current downturn aligns with historical trends and ongoing macroeconomic tightening. He suggested that Bitcoin has entered a bear market following its peak in October 2025, predicting continued declines and stating, “Bitcoin is likely going to keep bleeding against the stock market.”
The broader context reveals that Bitcoin’s downturn is part of a massive global market rout, which recently resulted in approximately $3 trillion in market value being wiped out in a matter of hours. This turmoil has hit precious metals, which, despite having seen historic rallies, faced significant losses. Gold, for instance, lost close to $1.5 trillion in market value, with prices dropping nearly 10% from recent highs, while silver experienced a decline of about 12%.
Longtime Bitcoin critic Peter Schiff has seized the opportunity to comment on the cryptocurrency’s performance, arguing that it has lagged behind gold over a more extended period despite its perceived institutional support. He indicated that Bitcoin is now worth just 15.5 ounces of gold—57% lower than its 2021 peak and only marginally above its 2017 high. Schiff’s stance underscores a perspective that suggests, for many investors, assets like gold or silver would have been a more prudent investment than Bitcoin amidst the current volatility.
A number of analysts have also signaled that the technical outlook for Bitcoin has deteriorated significantly. Victor Olanrewaju, an analyst at CCN, noted that Bitcoin has confirmed a bearish reversal pattern on daily charts by breaking crucial support levels. He highlighted that Bitcoin’s price has dropped below the $86,400 neckline, indicating a head-and-shoulders breakdown. Olanrewaju warned that if selling pressure persists, Bitcoin could drift towards $80,517. He further cautioned that the price could test the $78,000 mark—where there is prior demand and structural support—if the current market crash does not reverse.
In contrast, should there be a swift recovery beyond the neckline, there could be potential for a bounce towards $92,219, offering a glimmer of hope for Bitcoin enthusiasts. Analysts and investors alike remain cautious as they navigate the turbulent waters of the current crypto landscape, keeping a watchful eye on key support levels and broader market trends.
