Bitcoin Price Hits Below $67,000: Major Bearish Analyst il Capo Shares What to Expect Next

Il Capo of Crypto, one of the most well-known cryptocurrency analysts, evaluated the Bitcoin price, which fell below $ 67,000, in his statement.

BTC price experienced a pullback during the hours when the decision for Ethereum Spot ETFs was awaited. Bitcoin dropped to $66,770 on the cryptocurrency exchange Binance.

The fate of Ethereum Spot ETFs is expected to be determined around 23:30 Turkish time (UTC+3).

Chart with minute candles showing the recent performance of the BTC price.

However, il Capo said that after the bounce after $65,000, it hit its target between $69,000 and $70,000 and is currently experiencing a decline. Currently, the range between $66,500 and $67,000 is acting as support and forming a higher bottom.

If these levels manage to hold, the possibility of an attack to the previous all-time high price level will increase and the secondary target of $74,000 to $76,000 can be achieved, il Capo said. The analyst noted that this is his main scenario.

However, the analyst said that if these support levels do not hold, at least the $ 65,000 level will be tested and the Ethereum Spot ETF decision will also play a key role in this process.

*This is not investment advice.

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