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- Analyst hints that Bitcoin (BTC) could fall even deeper if bulls do not force a rebound to recover the $117k level.
- Shiba Inu (SHIB) has also formed a golden cross on its daily chart, triggering speculation of an upcoming rally.
The crypto market is struggling as Bitcoin (BTC) hovers slightly above the $111k level after declining by 1.7% in the last 24 hours, 1.5% in the last seven days, and 5.9% in the last 30 days.
Like the premier asset, Dogecoin (DOGE) has also had its fair share of this broad market pullback, falling by 2.46% in the last 24 hours to trade at $0.21. Shiba Inu (SHIB) is closely following this trajectory with a 2.58% daily decline, but analysts foresee a massive turnaround in the short term.
Shiba Inu’s (SHIB) Possible Turnaround
For the first time in 2025, Shiba Inu has formed a golden cross on its daily chart. Based on the available data, the long-term moving average (200) has been crossed by the short-term moving average (50). According to analysts, the impact could cancel out that of the death cross formed in February.
Agreeing to this potential rally, analyst Kamran Asghar hinted that the consolidation could end soon. His reason is that there has been a striking similarity in the pattern of accumulation with its previous consolidation phases.
The first of such a trend occurred in 2021 when the price rose by 1,154.2%. In 2024, the price surged by 501.23% soon after the accumulation phase. As indicated in our last analysis, SHIB has been tipped to hit $0.000081 and subsequently breach the $0.000088 all-time high price.
Bitcoin (BTC) to Recover an Important Resistance Level?
A renowned crypto trader, Peter Brandt, has pointed out the possibility of the asset forming a double top. A validation of this could see Bitcoin falling to as low as $108k. According to Brandt, the surest way to avoid this is to force a bullish reversal to reclaim the $117k level.
The current Bitcoin decline has been linked to profit-taking and other external factors. Recently, a whale was reported to have liquidated 24,000 BTC ($2.7 billion at that time), while still holding $17 billion worth of the asset.
Some crypto key figures believe that the market is struggling because of this, with Blockstream CEO Adam Back labeling this as clumsy.
Normally, people with that kind of money would be smarter.
Meanwhile, Bitcoin’s bullish predictions still hold. As noted in our recent post, the asset has been tipped to reach $160k by Christmas. In our recent update, the asset was also predicted to reach the $150k level soon.
Dogecoin (DOGE) Could Bounce Back
A whale recently withdrew a staggering amount of 52.9 million DOGE from Binance. According to on-chain data, this was done in two batches: 32.9 million and 20 million DOGE, both channeled into a new wallet.
Analysts see this as a sign of long-term self-custody and a bullish catalyst for the meme coin. Whale interest has been rising since last month, with wallets of at least 10 million DOGE holding 122.59 billion coins. As detailed in our earlier discussion, this is 81% of the total supply.
