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 | 72.4% | 50 | $60 767.97 | -0.67% | -5.64% | $1 200 915 949 163 |  |
|
|---|---|---|---|---|---|---|---|---|---|---|
| 2 |  ETH |
Ethereum predictions | 79.6% | 42 | $2 352.24 | -4.23% | -10.46% | $283 142 337 585 |  |
|
| 3 |  USDT |
Tether predictions | 94% | 1 | $0.999782 | 0% | -0.01% | $119 614 477 239 |  |
|
| 4 |  BNB |
Binance Coin predictions | 74% | 52 | $538.45 | -1.52% | -9.60% | $78 577 795 832 |  |
|
| 5 |  SOL |
Solana predictions | 72% | 55 | $137.00 | -6.20% | -10.33% | $64 181 728 618 |  |
|
| 6 |  USDC |
USD Coin predictions | 92.4% | 1 | $0.999902 | 0% | -0.01% | $35 573 175 119 |  |
|
| 7 |  XRP |
XRP predictions | 80.4% | 31 | $0.517725 | -11.59% | -12.24% | $29 284 596 054 |  |
|
| 8 |  DOGE |
Dogecoin predictions | 78% | 42 | $0.104163 | -2.03% | -8.46% | $15 229 968 359 |  |
|
| 9 |  TRX |
TRON predictions | 93.6% | 1 | $0.153886 | -0.05% | 1.00% | $13 325 922 954 |  |
|
| 10 |  TON |
Toncoin predictions | 73.2% | 49 | $5.23 | -3.49% | -10.28% | $13 254 866 876 |  |
|
| 11 |  ADA |
Cardano predictions | 75.6% | 45 | $0.339955 | -3.17% | -14.40% | $11 883 622 529 |  |
|
| 12 |  STETH |
Lido stETH predictions | 92% | 1 | $2 941.39 | -0.40% | -3.32% | $10 258 752 564 |  |
|
| 13 |  WTRX |
Wrapped TRON predictions | 90.8% | 1 | $0.116354 | -0.46% | 0.23% | $10 171 995 609 |  |
|
| 14 |  WBTC |
Wrapped Bitcoin predictions | 92% | 1 | $65 806.83 | 0.78% | -2.68% | $10 083 957 608 |  |
|
| 15 |  AVAX |
Avalanche predictions | 63.2% | 73 | $24.72 | -4.98% | -12.35% | $10 045 091 794 |  |
