- Bitcoin‘s post-election rally fell short of the $100K milestone.
- Fears mount over a major sell-off.
- Ran Neuner issues Speedo challenge.
Bitcoin’s post-election rally catapulted it to record highs, igniting widespread FOMO as it smashed through resistance levels. The surge brought casual retail investors flocking back, driven by hopes of breaking the elusive $100K milestone. Yet, despite the historic run, BTC narrowly missed the mark.
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Since then, Bitcoin has cooled off, hitting a local bottom of $90,900 on Tuesday. The debate over its next move is intensifying, with influencer Ran Neuner forecasting a drop to $73K, a bold prediction that’s sparked pushback.
Speedo Challenge Issue
Bitcoin’s post-election slide has stirred unease among some market watchers, fueling predictions of deeper declines ahead. Adding to the bearish outlook, influencer Ran Neuner forecasted a drop to $77,800 within three weeks, pointing to a CME gap at that level. He also outlined a worst-case scenario, suggesting Bitcoin could bottom out at $73K.
Analyst Miles Deutscher dismissed Neuner’s take and asserted that “the macro setup negates the likelihood of a big dip here.” Deutscher pointed to December’s historically strong performance in election years, robust stock market momentum, and the Trump inauguration as factors that could sustain Bitcoin’s price.
However, Neuner doubled down by proposing a bold wager to back his prediction. Confident that Bitcoin will see a significant drop, he bet that if BTC falls below $80K before mid-February, he will win; otherwise, Deutscher does. The loser is to wear Speedos on a livestream, adding a humorous twist to an otherwise serious debate.
What Next For Bitcoin?
Bitcoin’s next move remains hotly contested, but recent price action has provided a glimmer of hope. Since hitting a local bottom of $90,900 on Tuesday, BTC has rebounded 3% at the time of writing, sparking optimism among investors for a potential recovery.
Nonetheless, Michaël van de Poppe, founder of MN Consultancy, suggested that Bitcoin is in a consolidation phase. He predicted BTC could dip further into the $86,000–$89,000 range before reversing course and making another run toward the elusive $100K milestone.
Technical analysis supports this outlook, with Fibonacci retracement levels offering additional clues. Based on the swing high from March to the swing low in August, the 1.618 channel is at $89,000, identifying a potential support line at this level.
On the Flipside
- The CME gap theory, where Bitcoin revisits Friday’s closing price on the Chicago Mercantile Exchange, does not occur with 100% reliability.
- The return of casual investors could increase downside volatility as they are less tolerant of losses.
- Peter McCormack placed a higher stakes bet on Bitcoin hitting $100K this year, standing to lose $100K if it doesn’t happen.
Why This Matters
Beyond the humourous Speedo bet, Bitcoin’s performance during this critical test of price discovery sets the tone for the 2025 market cycle.
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