The cryptocurrency market is experiencing a severe sell-off, with over $3 trillion erased from its global market cap. Major digital assets like Bitcoin, Ethereum, and XRP are facing heavy losses, and a previously accurate analyst is now warning of a potential further decline for Bitcoin to $60,000.

Market Snapshot:

• Bitcoin (BTC): Down 7.32% to $85,566, with a market cap of $1.70 trillion and panic selling volume surging above $96 billion.
• Ethereum (ETH): Down 7.54% to $2,799.
• XRP: Down 7% to $1.97.
• The correction is broad-based, affecting major altcoins like BNB (-5%) and Solana (-7%).

Analyst Perspective:
The analyst known as DrProfit, who correctly predicted Bitcoin's fall from its highs, is now cautioning that the downturn may not be over. Having accurately forecasted the drop to $90,000, he suggests that breaking below this level opens the door to significantly lower targets.

Bitcoin Price Analysis and Key Levels:

• Oversold Signal: Bitcoin is in oversold territory on the daily chart for the first time in nine months. Historically, this leads to short-term bounces but not necessarily an immediate trend reversal.
• Critical Support: The $85,000 level is a major support zone. A daily close below it could trigger a fall toward $75,000-$77,000.
• Downside Risk: If the $75,000 support breaks, the path toward the analyst's $60,000 target becomes more likely.
• Resistance Zone: For any hope of a recovery, Bitcoin must reclaim the $92,000 to $94,000 resistance region. Until then, selling pressure is expected to dominate.