Market Sentiment and Price Forecasts:
Near-term caution: The general market sentiment is cautious, with many traders anticipating further short-term downside due to macro uncertainty and recent price pressure. Analysts suggest that a sustained drop toward the $80,000–$87,000 support zone remains possible.
Long-term optimism: Despite short-term caution, the long-term outlook remains generally positive among institutions and treasury buyers. Several financial analysts have price targets for Bitcoin ranging from $150,000 to $250,000 for the year 2026, with many targets clustering in the low-to-mid six figures.
Key levels to watch: Reclaiming and holding above the $93,500 level is seen as a key indicator that could restore upside momentum toward $100,000. Failure to do so could lead to a deeper retracement toward major support levels around $80,000 and potentially even $75,000.
Prediction market odds: Traders on Polymarket currently price in a 65% chance of Bitcoin dropping to $80,000 first, before it reaches $100,000 in 2026.
