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Traders say Bitcoin still due for ‘next leg lower’ targeting $46K BTC price
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Why This Matters
Bitcoin's weekly close below the 200-week MA has led traders to expect a further decline in price, targeting $46K, indicating a bearish outlook for the cryptocurrency. This move is likely to impact the broader crypto market, potentially affecting altcoins and overall market sentiment. The breakdown below a key moving average suggests a shift in market dynamics, which could lead to increased selling pressure.
Market Impact
The expected decline in Bitcoin's price could lead to a ripple effect in the crypto market, potentially causing altcoins to decline as well. A drop to $46K would represent a significant move, likely increasing bearish sentiment and potentially leading to a decrease in market capitalization for Bitcoin and the broader crypto market.
Sentiment
Bearish
AI Confidence
70%
Time Horizon
Short Term
Article Context
Note: This is a brief excerpt for context. Click below to read the full article on the original source.
BTC price action looked weaker after Sunday's weekly close below the 200-week MA, with Bitcoin market participants bracing for lower levels.
Original article published by
CoinTelegraph
on March 23, 2026.
Analysis and insights provided by AnalystMarkets AI.
Analysis and insights provided by AnalystMarkets AI.