Bitcoin’s (BTC) recent price weakness has reignited debate over how deep the current pullback could go, with analysts and technical indicators hinting at a possible further correction.
Indeed, after losing the $65,000 support, one of the key questions under watch is whether Bitcoin could crash below $50,000. In this context, Finbold turned to OpenAI’s ChatGPT to assign odds on when the asset might drop under $50,000.
ChatGPT estimated there is a 25% chance that Bitcoin could fall below $50,000 from its current level near $63,000.
The assessment points to a cautious but not catastrophic outlook for the world’s largest digital asset. While the model sees a meaningful risk of further downside, it does not consider a plunge to $50,000 the most likely outcome under current conditions.
The model also assigned a 60% probability that the asset breaks below $60,000, a 45% chance of dropping under $55,000, and a 40% likelihood that it manages to stay above $60,000 in the near term.
Bitcoin price softness
Recent price softness around the $60,000 region has slightly increased downside risk, particularly if critical support between $55,000 and $60,000 fails to hold. ChatGPT noted that a decisive break below that zone could accelerate selling pressure as traders respond to technical weakness.
However, ChatGPT noted that a move toward $50,000 would likely require a more pronounced deterioration in cryptocurrency market confidence or a broader macroeconomic shock that dampens risk appetite across global markets.
As things stand, Bitcoin’s outlook remains split, with analysts debating whether the recent weakness signals a deeper cycle low or a setup for a fresh rally.
Some blockchain commentators warn that soft price action and ongoing macro uncertainty could push Bitcoin back toward cycle lows. In contrast, investment firm Bernstein argues the bearish case is overstated and sees potential for a move toward $150,000 over time. Standard Chartered also remains constructive, revising its target to $100,000 after dropping its earlier $150,000 forecast.
The divergence reflects uncertainty over what is driving the downturn. While some view it as part of Bitcoin’s typical boom-and-bust cycle, others cite global instability and tightening financial conditions.
Bitcoin price analysis
At press time, Bitcoin was trading at $63,048, having plunged about 5% in the past 24 hours. Over the past week, the asset has dropped more than 7%.
As things stand, Bitcoin’s main task is to remain above $60,000, as a drop below this mark could open the door toward the $50,000 zone.
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