Key Insights
- •10x Research predicts Bitcoin price to trade under selling pressure between $70K-$100K by year-end.
- •Peter Brandt shared support levels at $70K and mid-$40K as Bitcoin continues to crash.
- •Glassnode claims investors and whales will defend $80,000, a key inflection point.
Bitcoin price remains under selling pressure amid bearish price predictions by experts. 10x Research and veteran trader Peter Brandt predicted a potential crash to $70,000 by the year-end.
BTC price fell more than 6% on Monday amid macro jitters. Bank of Japan Governor Kazuo Ueda hinted at a rate hike in December, which erased recent gains recorded by Bitcoin and altcoins.
10x Research Predicts Bitcoin Price Between $70K-$100K by Year-End
Crypto market expert 10x Research, on December 1, stated that Bitcoin is currently facing a major resistance level at $92K, with BTC price failing its recent attempt to rebound. Volatility has decreased significantly, and flows into spot Bitcoin ETFs have dropped. However, the crypto market faces deeper shifts in market positioning.
While seasonal trends should provide some support, the data indicate that December is not as bullish as many traders anticipate. Global interest rate dynamics and Tether FUD in the crypto market also began to impact Bitcoin price. 10x Research recommended selling the $70,000 Bitcoin put and the $100,000 call for the December 2025 expiry. The firm still expects Bitcoin to trade within the $70,000 to $100,000 range by year-end.
The reason for this decline is a significant decrease in implied volatility from last week’s elevated levels. BTC faces key resistance levels between $90,000-$92,000 and $99,000-$101,000. The firm added, "We expect this bounce to fade in the days ahead or into the FOMC meeting. Even if the Fed cuts in December, it is likely to be a hawkish cut, making this rally more of a short-term, oversold rebound amid extreme fear than the start of a sustainable V-shaped recovery."
Veteran Trader Peter Brandt Predicts Lower Support Levels
Veteran trader Peter Brandt shared a weekly logarithmic chart for Bitcoin. He highlighted support at $70K at the upper boundary of the lower green zone and another in the mid-$40K. Brandt reiterated his bearish Bitcoin price prediction; earlier, he predicted a Bitcoin price crash to $58K.
Additionally, he commented on Michael Saylor’s strategy facing losses as BTC price continues to drop. He claimed investors will sell the MSTR stock if BTC starts tumbling towards these support levels.
Will Bitcoin Price Fall Below $80,000?
Glassnode data revealed that a new cost-basis cluster has formed after Bitcoin’s recent drop to the low-$80,000. However, Bitcoin recorded massive accumulation near the level. Glassnode claimed this zone is a strong support area as it is one of the densest on the heatmap. The short-term holders and whales would likely defend a drop below the $80,000 level.
Crypto analyst Ted Pillows predicted a drop towards the November low level if Bitcoin price fails to reclaim the $88,000-$89,000 level. It will face rejection at $92,000-$93,000 resistance level again if BTC rebounds.
BTC price was trading at $86,383, down 6% in the past 24 hours. The 24-hour low and high were $85,653 and $91,965, respectively. Furthermore, the trading volume has increased by 72% in the last 24 hours, indicating massive activity from traders.