Bitcoin (CRYPTO: BTC) faces a potential final decline toward $73,400 to $74,500 before reversing, as experts and analysts highlight signs that the recent crypto market selloff could be nearing exhaustion.
While Franklin Templeton's chief investment officer Seth Ginns sees improving market fundamentals and elevated investor fear as encouraging signals, crypto analyst CryptoInsightUK expects one final liquidity sweep before a sustained recovery.
Speaking on the Coin Bureau podcast on Nov. 6, Ginns highlighted several signals suggesting the market could be approaching a bottom:
- VIX at 28: Elevated volatility suggests forced selling and heightened investor fear, conditions that have historically preceded market recoveries.
- Bond market stability: Falling Treasury yields indicate investors are seeking safety rather than losing confidence in U.S. government debt.
- Healthy crypto fundamentals: Several projects continue generating revenue despite declining token valuations.
Ginns also remains constructive on Bitcoin relative to gold, citing limited supply, institutional adoption and growing accessibility.
Could BTC, ETH and XRP See One Final Crash?
Crypto trader CryptoinsightUK echoed a similar potential bottom view, but expects another round of liquidations before aggressively positioning for a recovery.
The analyst identified several key levels:
- Bitcoin: A final decline toward $74,500–$73,400 could clear remaining downside liquidity and complete its ABC corrective pattern.
- Ethereum (CRYPTO: ETH): Much of the downside liquidity has already cleared, suggesting the cryptocurrency is approaching a potential support zone.
- XRP (CRYPTO: XRP): A possible dip toward $1.13–$1.17 could precede a recovery toward $1.29–$1.34, with larger upside liquidity near $1.70.
The analyst seeks confirmation through bullish divergence, a final selloff or cryptocurrencies holding steady despite negative geopolitical developments.
