The Bitcoin Bitcoin price briefly climbed back toward $69,000 on Monday, offering relief after weeks of choppy trading.
But the bounce comes with fresh caution, as a Bloomberg analyst warned that a deeper downturn could still drag BTC as low as $10,000 if selling pressure accelerates.
What Happened
Bitcoin recovered to the $69K region during intraday trading after recent declines, supported by short-term dip buying and reduced liquidation pressure.
The move followed several sessions of heavy volatility, where BTC repeatedly tested lower support zones before stabilizing. Trading desks reported quick price swings rather than sustained momentum, suggesting uncertainty remains high.
At the same time, a Bloomberg market analyst flagged downside risks, arguing that broader macro weakness and fading risk appetite could trigger another leg lower. In a bearish scenario, the analyst said Bitcoin could revisit levels near $10,000 a price last seen during earlier crypto bear cycles.
Why It Matters
The warning highlights a widening gap in market expectations.
Some traders see the return to $69K as a potential base forming after months of consolidation. Others believe the rally is simply a relief bounce within a broader downtrend.
Large price targets on both sides underscore how fragile sentiment remains. Even modest selling can quickly turn into sharper declines as leveraged positions unwind.
Market Impact
">Volatility has picked up across derivatives markets, with rapid intraday swings and thin liquidity amplifying moves.
Altcoins also reacted unevenly, with several majors slipping as Bitcoin struggled to hold gains. Volume remained elevated, signaling active repositioning rather than quiet accumulation.
Expert Insights
According to the ">Bloomberg analyst, recognizing the current environment as a late-cycle correction helps explain why positive headlines have failed to spark sustained rallies. Historically, crypto markets often bottom only after prolonged exhaustion, not during short rebounds.
Bitcoin’s push back to $69,000 shows buyers are still active, but the path forward remains uncertain. With analysts warning of both recovery and steep downside scenarios, traders are likely to brace for continued turbulence before any clear trend emerges.
