{"id":61106,"date":"2026-02-02T09:22:35","date_gmt":"2026-02-02T02:22:35","guid":{"rendered":"https:\/\/hbbgroup.net\/bitcoins-hopium-for-bulls-may-be-over-and-this-weekends-slide-could-be-just-the-beginning\/"},"modified":"2026-02-02T09:22:35","modified_gmt":"2026-02-02T02:22:35","slug":"bitcoins-hopium-for-bulls-may-be-over-and-this-weekends-slide-could-be-just-the-beginning","status":"publish","type":"post","link":"https:\/\/hbbgroup.net\/vi\/bitcoins-hopium-for-bulls-may-be-over-and-this-weekends-slide-could-be-just-the-beginning\/","title":{"rendered":"Bitcoin’s ‘hopium’ for bulls may be over and this weekend’s slide could be just the beginning"},"content":{"rendered":"
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Bitcoin\u2019s sharp weekend drop triggered fresh liquidations, with analyst Eric Crown warning the market may face months of further downside.<\/h2>\n<\/div>\n
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Bitcoin\u2019s price sank sharply over the weekend, sliding below $78,000 \u2014 its lowest level since April \u2014 as profit-taking collided with thinning liquidity and a scarcity of fresh buyers. <\/p>\n

Traders told CoinDesk<\/a> that a rally once backed by corporate demand, particularly from Strategy\u2019s (MSTR) bitcoin purchases, has run out of steam, leaving markets vulnerable to forced selling and derivative liquidations.<\/p>\n

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\u4e0d\u8981\u9519\u8fc7\u53e6\u4e00\u4e2a\u6545\u4e8b.<\/span>\u4eca\u5929\u8ba2\u9605 Crypto Daybook Americas \u65b0\u95fb\u901a\u8baf. \u67e5\u770b\u6240\u6709\u65b0\u95fb\u901a\u8baf<\/a><\/span><\/p>\n

By signing up, you will receive emails about CoinDesk products and you agree to our <\/span>terms & conditions<\/span><\/a> and <\/span>\u9690\u79c1\u653f\u7b56<\/span><\/a>.<\/span><\/span><\/p>\n<\/div>\n

For some market analysts, Saturday\u2019s slide fits into a broader bearish pattern that has been emerging for months. Eric Crown, a former options trader at NYSE Arca, has argued since late October that bitcoin is in a sideways-to-downside phase, and that the optimism around a return to new highs \u2014 or a rotation from metals back into crypto \u2014 is misplaced \u201chopium\u201d for bulls.<\/p>\n

\u201cIt\u2019s been my view since [the] end of October that BTC is in a sideways and downside phase\u2026 I do not think 80K is a macro low for bitcoin,\u201d Crown, who now posts updates on the crypto market<\/a> with more than 200,000 subscribers, told CoinDesk, underlining that recent price action may be part of a larger corrective regime.<\/p>\n

And the action in the options market backs up this bearish sentiment. Options traders are now increasingly betting that prices will fall below $75,000 and ditching their bullish bets of reaching $100,000. So much so that the dollar value of the number of active bitcoin put options contracts at the $75,000 level listed on Deribit platform now stands at $1.159 billion, almost matching the so-called notional open interest of $1.168 billion locked in the $100,000 call option.<\/p>\n

Read more: Here’s why bitcoin traders are now betting billions on a drop below $75,000 and bailing on price rising higher<\/a><\/em><\/strong><\/p>\n

Bearish signals<\/h2>\n

Crown points to several technical indicators that have historically foreshadowed deeper corrections. <\/p>\n

The monthly MACD \u2014 a technical trading indicator \u2014 crossed down in November, a rare signal that has preceded extended downturns in previous cycles. <\/p>\n

Additionally, the weekly 21 vs. 55 EMA (another technical indicator) recently crossed into bearish territory. When this happens, it is typically followed by multi-month losses. And the 2025 yearly chart closed as a “shooting star,” a candlestick pattern that often signals a medium-term reversal.<\/p>\n

\"Chart<\/p>\n

Chart showing monthly MACD crossover (TradingView) <\/figcaption><\/p>\n<\/figure>\n

Bitcoin to $50,000?<\/h2>\n

Making matters worse for bulls, bitcoin has diverged from traditional markets since October, declining while equities and other risk assets held up \u2014 a pattern Crown sees as typical of late-cycle risk-off behavior. <\/p>\n

\u201cPeople generally sell the more speculative assets first,\u201d he said.<\/p>\n

Beyond technicals, Crown highlights the speculative wash-out from October\u2019s crash, which eliminated many leveraged altcoin positions and left traders wary of re-entering at elevated levels.<\/p>\n

Read more: Crypto\u2019s $19 billion ’10\/10′ nightmare: Why everyone is blaming Binance for the bitcoin crash that won’t end<\/a><\/em><\/strong><\/p>\n

While not as extreme as some cyclical bears, Crown suggests bitcoin may fall to even lower levels \u2014 potentially into the mid-$50,000 to low-$60,000 zone \u2014 before stabilizing. <\/p>\n

In fact, he says that range represents an area he\u2019s personally eyeing to add to his long-term positions, framing the current market as a potential value-accumulation phase rather than the end of crypto\u2019s broader cycle.<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Bitcoin\u2019s sharp weekend drop triggered fresh liquidations, with analyst Eric Crown warning the market may face months of further downside. […]<\/p>","protected":false},"author":5,"featured_media":61107,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[220],"tags":[],"class_list":["post-61106","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-tien-dien-tu"],"acf":[],"_links":{"self":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/61106","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/comments?post=61106"}],"version-history":[{"count":0,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/posts\/61106\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media\/61107"}],"wp:attachment":[{"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/media?parent=61106"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/categories?post=61106"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hbbgroup.net\/vi\/wp-json\/wp\/v2\/tags?post=61106"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}