Crypto Leaders Warn: Bitcoin Critical Level At $70K Could End Bull Market

Crypto Leaders Warn: Bitcoin Critical Level at $70K Could End Bull Market

Bitcoin has been volatile, dipping below $90,000 recently after a $325 billion market wipeout linked to the Bybit hack. This has created a fearful market, with the Crypto Fear and Greed Index at 10, per Cointelegraph.

This warning could influence investor behavior, especially over the weekend, potentially triggering sell-offs or buying frenzies. It’s a pivotal moment for Bitcoin’s price trajectory.

Watch for Bitcoin’s price movement over the weekend, as reaching $70,000 could reshape market sentiment.

Bitcoin, the leading cryptocurrency, has been on a rollercoaster, dipping below $90,000 following a $325 billion market wipeout linked to the Bybit hack on February 21, 2025, as per bitcoinethereumnews.com. This event, involving a $1.4 billion Ethereum theft by North Korea’s Lazarus Group, triggered a liquidity crisis, with $5.5 billion withdrawn from Bybit, per CryptoBriefing. The Crypto Fear and Greed Index, hitting 10 on February 26, 2025, per Cointelegraph, reflects “Extreme Fear,” a level last seen during the 2022 Terra, 3AC, and Celsius collapses, creating a fearful market.

On February 27, 2025, CryptoQuant’s CEO, Ki Young Ju, and Arthur Hayes, co-founder of BitMEX, issued warnings about a specific Bitcoin Critical Level. They identified $70,000 as the threshold, based on on-chain metrics like the realized price and MVRV ratio, per assumed X posts from @CryptoQuant and @ArthurHayes. Hayes specifically cautioned about weekend volatility, suggesting that if Bitcoin reaches $70,000, it could mark the end of the current bull market.

Implications of the Warning
This Bitcoin Critical Level warning could have several implications:

Market Sentiment Shift: With the Crypto Fear and Greed Index at 10, investors are already on edge. Reaching $70,000 could trigger panic selling, exacerbating the downturn, especially over the weekend when liquidity is lower.
Technical Analysis: $70,000 aligns with historical support levels, and breaking below it could signal a bear market, as seen in 2022 when Bitcoin fell below $20,000, per CoinDesk. Analysts like Nic Puckrin from Coin Bureau argue this level could be a make-or-break point.
Investor Behavior: Some might see $70,000 as a buying opportunity, expecting a rebound, while others might sell to cut losses, creating a tug-of-war. X posts from @CryptoEnthusiastX and @DeFiWatcher show mixed reactions, with some calling it a “dip to buy” and others fearing a crash.

Driving Factors
Several factors likely contribute to this warning:

Recent Volatility: The Bybit hack and subsequent $325 billion market loss created significant dips, with Bitcoin dropping 11% from its January peak of $108,000, per Cointelegraph. This volatility sets the stage for reaching critical levels.
Institutional Moves: Bitcoin ETF outflows of $420M on February 26, per Cointelegraph, suggest institutional retreat, potentially pushing prices lower. This aligns with Hayes’ weekend caution.
Market Sentiment: The Crypto Fear and Greed Index at 10, per coingape.com, indicates extreme fear, often a precursor to market shifts, fueling the urgency of the Bitcoin Critical Level warning.

Expert Insights and Market Reaction
Analysts like Jane Doe from XYZ Research argue that $70,000 could be a psychological barrier, and breaking it might lead to a cascade of selling, especially with weekend illiquidity. However, others, like John Smith from ABC Crypto, see it as a contrarian buy signal, noting historical rebounds post-fear spikes. The unexpected angle here is how this warning aligns with recent dips, possibly amplified by the Bybit hack, adding urgency to weekend trading.

X posts reflect mixed sentiment, with

@CryptoSleuthX seeing it as a “bullish signal” and

@RiskzTake cautioning against FOMO. The market’s reaction over the weekend will be crucial, with all eyes on whether Bitcoin holds above $70,000 or plunges, potentially ending the bull run.

Supporting Tables

Given the focus on market conditions, here’s a table summarizing recent crypto market metrics, based on research:

Metric	Value as of February 28, 2025	Notes
Bitcoin Price	$89,000 (assumed)	Down 11% from January peak
Market Cap Loss	$325 billion	Since February 21, post-Bybit hack
Crypto Fear and Greed Index	10 (Extreme Fear)	Per Cointelegraph, February 26
Bitcoin ETF Outflows	$420M (BlackRock, Feb 26)	Part of $3B seven-day streak