Bitcoin Could Slide To $77,000<\/strong><\/h2>\nCrypto analyst Egrag Crypto suggested that the massive corrections that Bitcoin has been experiencing could cause the coin to plunge to the $77,000 mark.<\/p>\n
Egrag added that since October 2022, the flagship cryptocurrency has been subjected to about seven considerable drops, adding, \u201cThe average drop across these events is approximately 23.53%.\u201d<\/p>\n
\n#BTC<\/a> Drop – Average Dump & CME (70K-74K): How & Why?<\/p>\n1\u20e3Average Drop:
\nSince October 2022, #BTC<\/a> has experienced nearly seven significant drops. Here are the percentage declines:<\/p>\n1) 22.70%
\n2) 20.18%
\n3) 21.70%
\n4) 21.42%
\n5) 23.27%
\n6) 25.82%
\n7) 29.65%<\/p>\n
\ud83d\udcca The average drop across\u2026 pic.twitter.com\/Vz6QiZlnzF<\/a><\/p>\n\u2014 EGRAG CRYPTO (@egragcrypto) December 27, 2024<\/a><\/p><\/blockquote>\n\u201cFrom the current high of around 108,975, we’re looking at a potential drop to the lower end of the CME GAP (between 77K-80K). This represents a 25% decline, aligning well with the average drop observed during this cycle,\u201d Egrag said in a post.<\/p>\n
![\"\"](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_dc8869.png?resize=1024%2C431\")
<\/p>\n
Egrag also noted that the current 21 Weekly EMA is around $80,000, suggesting that \u201canother flash crash could be on the horizon.\u201d<\/p>\n
![\"\"](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_f0b187.png?resize=1024%2C422\")
<\/p>\n
CME Gap At $80,000<\/strong><\/h2>\nAnother crypto analyst, XForceGlobal, reminded traders that \u201cthere\u2019s a 1D CME gap at $80,000.\u201d<\/p>\n
XForceGlobal said that historically, 90% of daily CME gaps larger than have been eventually filled since 2018.<\/p>\n
\n$BTC<\/a><\/p>\nJust a friendly reminder: there’s a 1D CME gap at $80,000.<\/p>\n
Statistically, since 2018, with the growing interest in gaps, 90% of 1-Day timeframe gaps larger than $1,000 have eventually been filled (ignore anything below the 1D timeframe).<\/p>\n
The tricky part with CME gaps is\u2026 pic.twitter.com\/wJC2ih5U8M<\/a><\/p>\n\u2014 XForceGlobal (@XForceGlobal) December 24, 2024<\/a><\/p><\/blockquote>\n![\"\"](\"https:\/\/ktsl888.com\/wp-content\/uploads\/2024\/12\/a_7822a6.png?resize=1024%2C612\")
<\/p>\n
However, the crypto analyst noted that it is hard to predict the timing and method of filling CME gaps.<\/p>\n
\u201cThe tricky part with CME gaps is that their timing and method of filling remain unpredictable,\u201d XForceGlobal said in a post.<\/p>\n
The crypto analyst sees possible scenarios to fill the CME gaps. In one scenario, XForceGlobal suggests it could be filed through a deep wave or wave-4 correction, bringing Bitcoin down to the $77,000 to $80,000 level.<\/p>\n![](\"https:\/\/www.tradingview.com\/x\/tPc2dkDC\/\")
Total crypto market cap currently at $3.2 trillion. Chart: TradingView<\/a><\/figcaption><\/figure>\nIn another scenario, XForceGlobal said it can be filled \u201cat a later stage via the assumed 1-2 correction after we finally finish off this bull run’s impulse,\u201d a scenario which might result in the BTC to plummet to $46,000.<\/p>\n
#BTC<\/a> Drop – Average Dump & CME (70K-74K): How & Why?<\/p>\n 1\u20e3Average Drop: 1) 22.70% \ud83d\udcca The average drop across\u2026 pic.twitter.com\/Vz6QiZlnzF<\/a><\/p>\n \u2014 EGRAG CRYPTO (@egragcrypto) December 27, 2024<\/a><\/p><\/blockquote>\n \u201cFrom the current high of around 108,975, we’re looking at a potential drop to the lower end of the CME GAP (between 77K-80K). This represents a 25% decline, aligning well with the average drop observed during this cycle,\u201d Egrag said in a post.<\/p>\n Egrag also noted that the current 21 Weekly EMA is around $80,000, suggesting that \u201canother flash crash could be on the horizon.\u201d<\/p>\n Another crypto analyst, XForceGlobal, reminded traders that \u201cthere\u2019s a 1D CME gap at $80,000.\u201d<\/p>\n XForceGlobal said that historically, 90% of daily CME gaps larger than have been eventually filled since 2018.<\/p>\n $BTC<\/a><\/p>\n Just a friendly reminder: there’s a 1D CME gap at $80,000.<\/p>\n Statistically, since 2018, with the growing interest in gaps, 90% of 1-Day timeframe gaps larger than $1,000 have eventually been filled (ignore anything below the 1D timeframe).<\/p>\n The tricky part with CME gaps is\u2026 pic.twitter.com\/wJC2ih5U8M<\/a><\/p>\n \u2014 XForceGlobal (@XForceGlobal) December 24, 2024<\/a><\/p><\/blockquote>\n However, the crypto analyst noted that it is hard to predict the timing and method of filling CME gaps.<\/p>\n \u201cThe tricky part with CME gaps is that their timing and method of filling remain unpredictable,\u201d XForceGlobal said in a post.<\/p>\n The crypto analyst sees possible scenarios to fill the CME gaps. In one scenario, XForceGlobal suggests it could be filed through a deep wave or wave-4 correction, bringing Bitcoin down to the $77,000 to $80,000 level.<\/p>\n In another scenario, XForceGlobal said it can be filled \u201cat a later stage via the assumed 1-2 correction after we finally finish off this bull run’s impulse,\u201d a scenario which might result in the BTC to plummet to $46,000.<\/p>\n
\nSince October 2022, #BTC<\/a> has experienced nearly seven significant drops. Here are the percentage declines:<\/p>\n
\n2) 20.18%
\n3) 21.70%
\n4) 21.42%
\n5) 23.27%
\n6) 25.82%
\n7) 29.65%<\/p>\n<\/p>\n<\/p>\nCME Gap At $80,000<\/strong><\/h2>\n
\n
<\/p>\n