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 | 56.8% | 93 | $19 241.67 | -5.61% | -9.67% | $367 181 795 784 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 58.4% | 92 | $1 059.15 | -3.18% | -13.28% | $128 553 316 172 |  |
|
| 3 |  USDT |
Tether predictions | 93.2% | 1 | $0.998955 | 0% | -0.04% | $66 163 024 576 |  |
|
| 4 |  USDC |
USD Coin predictions | 93.2% | 1 | $1.000391 | -0.02% | 0.04% | $55 824 445 752 |  |
|
| 5 |  BNB |
Binance Coin predictions | 60.8% | 83 | $215.34 | -4.45% | -10.63% | $35 160 747 810 |  |
|
| 6 |  BUSD |
Binance USD predictions | 91.6% | 1 | $1.000088 | 0.10% | 0.04% | $17 548 760 052 |  |
|
| 7 |  ADA |
Cardano predictions | 61.6% | 77 | $0.450635 | -3.60% | -10.37% | $15 210 103 811 |  |
|
| 8 |  XRP |
XRP predictions | 66.4% | 69 | $0.312867 | -5.44% | -15.56% | $15 124 962 063 |  |
|
| 9 |  SOL |
Solana predictions | 66% | 76 | $32.75 | -6.27% | -22.31% | $11 242 411 042 |  |
|
| 10 |  DOGE |
Dogecoin predictions | 65.6% | 71 | $0.067391 | -0.30% | -0.20% | $8 940 786 353 |  |
|
| 11 |  DAI |
Dai predictions | 93.6% | 1 | $0.999784 | -0.09% | -0.03% | $6 859 368 442 |  |
|
| 12 |  DOT |
Polkadot predictions | 68.4% | 67 | $6.72 | -5.60% | -18.62% | $6 637 336 409 |  |
|
| 13 |  TRX |
TRON predictions | 58.8% | 88 | $0.065207 | -0.60% | -1.36% | $6 030 956 222 |  |
|
| 14 |  LEO |
UNUS SED LEO predictions | 69.6% | 60 | $5.77 | -0.04% | -1.82% | $5 499 921 297 |  |
|
| 15 |  SHIB |
SHIBA INU predictions | 66.8% | 66 | $0.000010 | -3.90% | -8.85% | $5 489 974 219 |  |
