Is BTC headed toward a plunge to $62,000 in the near future?
The leading cryptocurrency has been quite unstable over the past several days, slipping from its local top above $87,000 witnessed earlier in September.
Some popular analysts believe the asset may soon offer a buying opportunity before resuming its rally toward $90,000 and even $100,000, while key factors support the overall bullish outlook.
Down and Then Massive Pump?
Earlier this month, Ali Martinez outlined several reasons why BTC might be on its way to hit the $100K psychological level. Among them is growing institutional appetite, with the analyst noting that spot Bitcoin ETFs have accumulated more than $1.6 billion worth of the cryptocurrency in about 72 hours.
The interest remained solid and, in fact, last week was the strongest since October 2025, with net inflows reaching almost $2.4 billion. SoSoValue’s data shows these ETFs posted eight green days in a row, last seen in August. This suggests pension funds, hedge funds, and other conservative investors continue to increase their exposure to the asset, potentially paving the way for further price gains in the near future.
Recently, Martinez updated his prediction with additional insights. He claimed that BTC appears to have broken out of a double bottom pattern and is now moving back toward the $82,000 neckline.
“If this level holds as support, the retest could offer a buying opportunity before the rally resumes toward the pattern’s $100,000 target,” he stated.
Gerla and Crypto with Haris ₿ also shared similar views. The former said that Bitcoin’s MVRV has returned to around 1.35 and the cohort is firmly back in profit. To him, this looks more like a healthy retest than the start of a major downfall.
The latter assumed that BTC “is giving small fake pumps to trap more buyers.” He believes the asset has entered the final bull trap and may plummet to roughly $62,000 before potentially rising above $90,000.
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Still in a Bull Market?
Doctor Profit is also optimistic about BTC’s broader trend, but he anticipates some turbulence ahead. As CryptoPotato reported, he set a downside target of $79,000, around the 50-week moving average.
“Important: I mention first, this does not mean that there is a second target lower, but 79k, and then I can tell based on BTC reaction, but for now it’s 79k and continue to a new high and continuing the bull. Let me make this extremely clear: I consider Bitcoin to be in a BULL MARKET, but I expect a correction WITHIN that bull market,” he added.