Bitcoin Price Could Drop to $66K, Analysts Warn
Key Takeaways
Bitcoin briefly held $80,000 despite global market turmoil but failed to maintain momentum and dropped below key psychological levels. Analysts warn Bitcoin could fall to $66,000 as institutional outflows, equity losses, and volatility weigh on investor sentiment. Long-term outlook remains positive, with growing institutional interest and potential Fed rate cuts offering hope for a rebound.
Bitcoin (BTC) briefly resisted the global market downturn, but its recent slip below $75,000 has raised new questions about where the price is headed next. Despite the tariffs imposed by Donald Trump, Bitcoin has remained relatively stable compared to the rest of the crypto market. BTC was able to hold the $80,000 level for a time. Over the past 30 days, Bitcoin has not moved into the red. CoinMarketCap data shows a gain of about 1% — a solid result against the backdrop of broader market declines. For comparison, Ethereum (ETH) lost more than 15% during the same period.
Following Trump’s tariff announcement, Bitcoin proved more resilient than major stock market indices. Eneko Knörr, CEO and co-founder of Stabolut, told Cryptonews:
“On April 3, something unusual happened: while global stock markets crashed, Bitcoin initially held firm and even climbed slightly amid the chaos. That moment of strength sparked optimism that Bitcoin might finally be decoupling from traditional risk assets.” However, Bitcoin later lost the $80,000 level and fell to nearly $75,000. Knörr added:
“The hope was short-lived — in the following days, Bitcoin followed equities downward, erasing gains and triggering a wave of sell-offs, falling below $75,000 during ‘Black Monday’ to levels not seen since November 2024.” The outlook for Bitcoin remains uncertain. Some analysts believe the bull run has ended and a bear phase is beginning. Others remain cautiously optimistic despite the pressure from ongoing trade policies.
Institutional Investors Pull Back
Nick Bhachu, Senior VP at LDA Capital, believes that upcoming public earnings reports could put pressure on the Bitcoin price if results fall short of expectations:
“There’s an abundance of market uncertainty right now, much of it stemming from geopolitical tensions and the ripple effects of tariffs, which are weighing heavily on investor sentiment. The upcoming earnings season in public equities will be a real litmus test for risk appetite across markets, including crypto. If the results disappoint, we could see broader risk-off behavior that drags Bitcoin down in the short term.”
Tim Delhaes, CEO and founder of Grindery, told Cryptonews that Bitcoin could fall to $66,000 — or lower — if broader market pressure continues:
“If the broader sell-off continues and BTC nears MicroStrategy’s average buy-in around $66K, fears of institutional selling could trigger broader panic. Key factors driving this scenario include ongoing equity losses, high volatility, and investor demand for liquidity.”
Some metrics already suggest that institutional investors have started to exit the Bitcoin market. According to CoinGlass, Bitcoin Spot ETFs have seen more outflows than inflows for most of April. Since spot Bitcoin remains a key product for institutional holders, this may reflect a shift in sentiment. This trend began in February, when Bitcoin Spot ETFs recorded their largest outflow on record — minus $1 billion.
Eneko Knörr adds that Bitcoin’s inability to stay above the $80,000 mark in April could signal further weakness:
“Most notably, Bitcoin failed to hold the $80,000 level — a key psychological and technical threshold. The rejection at that zone, coupled with increased volatility and weakening momentum indicators, points to a possible deeper correction. If macro uncertainty lingers or additional liquidations occur, Bitcoin could face extended downside pressure.”
‘Bitcoin Could Catch a Strong Bid’
While some analysts believe Bitcoin could fall below the $80,000 level in the short term, many remain confident in its long-term potential. Nick Bhachu points out that institutional interest in Bitcoin remains strong. He also notes that a potential shift in U.S. monetary policy could support price recovery:
“There’s a clear trend of growing institutional interest and political recognition of digital assets, which sets the stage for a longer-term upside. Post–Black Friday, if macro data softens and the Fed signals a pivot, or if we see continued institutional inflows, Bitcoin could catch a strong bid. But in the near term, it’s all about how markets digest earnings and policy signals.”
Tim Delhaes agrees that any rate cut from the Federal Reserve could act as a positive catalyst:
“Recovery would hinge on a shift in sentiment—especially if the Fed signals rate cuts to stabilize markets. That, along with rising interest in decentralized alternatives, could support a bounce.”
Long-term performance metrics also suggest that Bitcoin remains competitive despite recent volatility. According to Dune data, BTC is the second-best performer on a Year to Date (YTD) basis, even with a -11% return. The only sector ahead is Decentralized Physical Infrastructure Networks (DePIN), down just 6%.
Taken together, institutional resilience, macroeconomic factors, and relatively strong long-term metrics suggest that while short-term pressure remains, Bitcoin still has room to rebound — if key signals align.
