Bitcoin Could Slide to $10,000, Analysts Warn, Raising Alarms for ETH, ADA, and XRP
Bitcoin (BTC) is facing renewed selling pressure as it trades near the $87,000 level, with analysts and derivatives data pointing toward rising downside risks extending into early 2026. Market sentiment suggests that the recent recovery may be losing strength, increasing concerns across the broader crypto market, including Ethereum (ETH), Cardano (ADA), and Ripple (XRP).
Traders are increasingly positioning for further declines, as evidenced by a notable build-up of put options (options that profit from falling prices) around the $85,000 level ahead of the Dec. 26 expiry. This positioning signals expectations of a potential dip below key support levels in the near term.
According to derivatives data, 30-day implied volatility has climbed toward 45%, while options skew remains firmly negative, reflecting strong demand for downside protection. Longer-dated options also show bearish bias, indicating that cautious sentiment may persist well into the first half of 2026.
“The uptrend that formed in late November has broken down,” said Alex Kuptsikevich, Chief Market Analyst at FxPro. “The market is behaving similarly to the October sell-off, where sharp rebounds failed to gain follow-through.”
Ethereum shows a slightly more balanced outlook compared to Bitcoin. While short-term ETH options remain skewed to the downside, longer-term sentiment appears closer to neutral. However, a large cluster of ETH put options around the $2,500 level suggests traders are still hedging against near-term weakness.
Some analysts are also sounding long-term alarms. Bloomberg Intelligence strategist Mike McGlone warned that Bitcoin’s surge above $100,000 earlier this year may have set the stage for a deeper retracement. He suggested that, in an extreme scenario, Bitcoin could revisit levels near $10,000 by 2026 as speculative excess unwinds during a broader economic slowdown.
