CryptoQuant: Bitcoin may drop to $72,000 by the end of the year

According to The Block, Julio Moreno, head of research at on-chain analytics firm CryptoQuant, stated that if Bitcoin fails to hold the $100,000 support level, the price could drop to $72,000 within 1-2 months. Currently, Bitcoin has fallen below $100,000, trading at around $100,800, down over 5.2% in the last 24 hours. Since the largest liquidation event in crypto history on October 10 (over $20 billion in leveraged positions were liquidated), market demand has continued to shrink, U.S. ETF fund flows are negative, and overall market sentiment has turned bearish.

Despite the short-term pressure, analysts believe that the long-term trends of ETF inflows and institutional adoption remain strong.