Bitcoin is predicted to potentially drop to its 2021 all-time high of $70,000 within the next ten days due to factors such as rising US trade tariffs impacting investor sentiment. Network economist Timothy Peterson suggests that this price point could represent Bitcoin's 'practical bottom.' His analysis uses a Lowest Price Forward (LPF) metric, historically effective in identifying BTC price bottoms, which highlights an uncomfortable descent reminiscent of 2021 market conditions. Recent data indicates a swift shift in Bitcoin’s price expectations, with the likelihood of a negative month increasing significantly. Additionally, on-chain analytics from Glassnode points to heightened trader caution, with a demand for downside protection reflected in options trading, mirroring past market stress scenarios. Despite the bearish indicators, Bitcoin hasn't seen a collapse akin to other equities faced with tariff announcements, suggesting a unique market response amidst rising panic.

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