Bitcoin price due for break below $30K trader warns after 9% daily loss
A breakout to avoid a fresh price dip would be a "miracle," says Crypto Ed as storm clouds gather for Bitcoin bulls. Bitcoin (BTC) traded worryingly near $30,000 support on June 8 amid fresh predictions of incoming lows.
Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as the pair lost 9% overnight on Monday. No amount of good news was able to help bulls, with potential adoption breakthroughs in Latin America conspicuously doing nothing to boost lackluster price action.
U.S. Treasury Secretary Janet Yellen likewise failed to lift the mood when she voiced support for higher inflation. Instead, Bitcoin dropped to $32,000, at the time of writing coming off a rebound to $33,000. For popular trader Crypto Ed, the outlook was uninspiring — and even included a trip below the $30,000 mark.
“It did the white ABC I posted before the weekend,” he told Twitter followers, referring to a forecast price rotation. “Now in green box but I'd expect 1 more leg down today, followed by a bounce to ~35k From there down again, sub 30k, or ‘up only’ again, but the latter feels more like a miracle tbh.”
Moving averages cause alarm
As Cointelegraph reported, traders are already on edge over a potential “death cross” involving two key moving averages which could spell further downside. This could extend beyond the short term, Cane Island Alternative Advisors investment manager Timothy Peterson noted, thanks to BTC/USD now lingering below its 200-day moving average for almost three weeks.
“This metric has *always* marked the end of a bull run and the start of a bear market,” he added in comments on Monday.
Top Cryptocurrencies with Price Predictions
| # | Crypto | Prediction | Accuracy | CVIX | Price | 24h | 7d | Market Cap | 7d price change | |
| 1 |  BTC |
Bitcoin predictions | 76% | 49 | $49 177.82 | -7.92% | -10.53% | $929 035 044 566 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 82.8% | 34 | $4 092.88 | -2.38% | -0.69% | $485 446 527 829 |  |
|
| 3 |  BNB |
Binance Coin predictions | 81.2% | 30 | $563.52 | -4.86% | -7.33% | $93 995 664 394 |  |
|
| 4 |  USDT |
Tether predictions | 95.6% | 1 | $0.999981 | -0.03% | 0% | $74 156 265 433 |  |
|
| 5 |  SOL |
Solana predictions | 72% | 60 | $203.61 | -3.36% | 4.31% | $62 231 324 330 |  |
|
| 6 |  ADA |
Cardano predictions | 67.6% | 67 | $1.42 | -8.66% | -8.56% | $47 386 208 203 |  |
|
| 7 |  XRP |
XRP predictions | 71.2% | 64 | $0.847073 | -8.28% | -10.87% | $40 021 926 228 |  |
|
| 8 |  USDC |
USD Coin predictions | 96% | 2 | $0.999590 | -0.04% | -0.01% | $39 871 779 233 |  |
|
| 9 |  DOT |
Polkadot predictions | 61.6% | 74 | $29.29 | -12.73% | -17.58% | $28 929 753 364 |  |
|
| 10 |  LUNA |
Terra predictions | 68% | 62 | $74.10 | 13.99% | 67.51% | $28 735 392 986 |  |
|
| 11 |  DOGE |
Dogecoin predictions | 62.8% | 71 | $0.178634 | -10.26% | -13.05% | $23 648 648 660 |  |
|
| 12 |  AVAX |
Avalanche predictions | 64% | 74 | $92.34 | -12.64% | -18.20% | $22 411 255 216 |  |
|
| 13 |  SHIB |
SHIBA INU predictions | 63.6% | 73 | $0.000037 | -7.81% | -5.02% | $20 467 328 342 |  |
|
| 14 |  CRO |
Crypto.com Chain predictions | 58.4% | 83 | $0.605372 | -3.98% | -24.08% | $15 293 531 006 |  |
|
| 15 |  MATIC |
Polygon predictions | 69.6% | 59 | $1.99 | -10.33% | 22.67% | $13 980 255 925 |  |
