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 | 62.8% | 76 | $23 396.59 | -0.27% | 1.23% | $451 107 099 851 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 68.4% | 64 | $1 657.83 | 1.20% | 3.76% | $202 875 422 612 |  |
|
| 3 |  USDT |
Tether predictions | 92% | 1 | $1.000118 | 0% | -0.01% | $68 036 636 818 |  |
|
| 4 |  BNB |
Binance Coin predictions | 76.8% | 39 | $330.60 | 3.36% | 7.50% | $52 201 447 647 |  |
|
| 5 |  USDC |
USD Coin predictions | 96% | 1 | $1.000017 | 0% | 0.01% | $41 963 522 546 |  |
|
| 6 |  XRP |
XRP predictions | 75.6% | 51 | $0.409253 | 0.39% | -0.52% | $20 789 661 448 |  |
|
| 7 |  BUSD |
Binance USD predictions | 94.8% | 1 | $1.000189 | 0.04% | 0.02% | $16 275 345 911 |  |
|
| 8 |  ADA |
Cardano predictions | 66.8% | 69 | $0.401320 | 0.57% | 2.97% | $13 885 724 489 |  |
|
| 9 |  DOGE |
Dogecoin predictions | 73.2% | 48 | $0.093563 | 3.08% | 6.89% | $12 413 030 793 |  |
|
| 10 |  MATIC |
Polygon predictions | 66.8% | 64 | $1.23 | 4.16% | 7.23% | $10 735 757 319 |  |
|
| 11 |  STETH |
Lido stETH predictions | 93.2% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 12 |  SOL |
Solana predictions | 59.2% | 88 | $24.53 | 1.61% | 0.31% | $9 140 950 218 |  |
|
| 13 |  DOT |
Polkadot predictions | 65.2% | 74 | $6.90 | 5.36% | 4.77% | $7 960 238 223 |  |
|
| 14 |  SHIB |
SHIBA INU predictions | 63.2% | 79 | $0.000014 | 17.92% | 21.32% | $7 857 412 436 |  |
|
| 15 |  LTC |
Litecoin predictions | 76.8% | 38 | $99.43 | 0.66% | 12.27% | $7 179 111 477 |  |
