- This week’s events have pushed Bitcoin’s price back into the $60,000 range.
- Analysts at Grayscale and CoinShares see no cause for concern, noting that retail investor sentiment is much more gloomy than institutional sentiment.
- According to James Butterfill of CoinShares, pressure on BTC price will ease from April to May.
This week Bitcoin again dropped below $70,000, and now traders are wondering if the coin can rise to $80,000 in April.
Crypto analysts have expressed their opinions on the short-term future of the flagship asset. It’s worth noting that they are not yet predicting a deeper collapse. Grayscale’s head of research, Zach Pandl, believes the current phase cannot be called a “crypto winter” due to the high interest from potential investors. He added that Grayscale’s sentiments contrast sharply with those on crypto Twitter, largely because the company has direct access to incoming institutional capital.
According to James Butterfill, head of research at CoinShares, large holders began taking profits in October. Based on previous cycles, the pressure could ease in about six months, or between April and May 2026.
The actions of Bitcoin holding companies also point to a mixed outlook for the market. For example, GameStop recently transferred 4,709 of its 4,710 BTC to Coinbase as part of a covered call option strategy, which limits the price rise above $105,000. This suggests the company is betting on a direct upside, adding to the cautious sentiment currently observed in the market.
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