Analyst warns of BTC drop to $55K, citing 2022 bear market pattern

On-chain analyst Ali Martinez has raised the possibility of a further decline in Bitcoin (BTC), noting that its current price structure resembles the bottoming formation seen in 2022, CryptoPotato reported. He analyzed that if BTC faces resistance in the $80,000 to $82,000 range, its price could fall below $55,000. This resistance zone is reportedly concentrated with a significant whale sell wall. BTC has recently shown slowing upward momentum, repeatedly facing resistance around the $79,000 mark. Furthermore, on-chain data indicates that whales have recently transferred over 10,000 BTC, worth approximately $770 million, to exchanges—a move often interpreted as a precursor to selling. This has led to speculation in the market about a potential repeat of a bear market rally pattern, where a temporary rebound is followed by another significant downturn.