Gareth Soloway argues Bitcoin is breaking down from major technical support and could fall toward 60,000, with a worst-case downside near 35,000 if a larger head-and-shoulders pattern plays out. At the same time, he says several beaten-down altcoins are starting to show relative strength and may be worth small, staged buys rather than all-in entries.
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Gareth Soloway’s core message is bearish on Bitcoin in the near term but selectively constructive on certain altcoins. He says Bitcoin is “collapsing through major technical support,” has likely confirmed a breakdown, and may be headed first toward 60,000, with a small bounce possible near 65,700. He also lays out a much lower worst-case target around 35,000 based on a head-and-shoulders interpretation, though he repeatedly stresses that this is not a guarantee and is only a scenario to plan for. His reasoning is technical and comparative. He points to Bitcoin breaking a trend line after previously reaching the 80,000–85,000 area he had projected, and he contrasts that weakness with the NASDAQ continuing to make new highs. …
Near term, Bitcoin looks tactically fragile and may continue lower toward 60,000 unless it quickly reclaims broken support. The cleaner opportunity is in small, staged probes on oversold altcoins showing relative strength, but only if the market does not enter a broad de-risking phase.
Over the next few weeks or months, the setup is a conditional rotation: Bitcoin needs to stabilize or at least stop underperforming equities, while select altcoins must hold support to confirm they are waking up. If BTC keeps lagging the NASDAQ during ordinary risk-on periods, the bearish crypto narrative strengthens.
Structurally, Soloway still views Bitcoin as a long-term asset worth accumulating on extreme weakness, akin to digital gold. The lasting question is whether crypto leadership shifts from broad beta to selective, oversold rotation opportunities rather than a uniform bull market.
Bitcoin is breaking major technical support and likely has further downside.
He repeatedly says BTC is collapsing through support, breaking trend lines, and headed lower.
Bitcoin may fall to around 60,000 first, with 65,700 as an early support area.
He identifies a pivot low near 65,700 and a broader downside target around 60,000.
A larger head-and-shoulders pattern could imply a worst-case Bitcoin target near 35,000.
He explicitly says the measured move from the pattern yields around 35,000, but frames it as worst case only.
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