Price Predictions 12/1: Spx, Dxy, Btc, Eth, Xrp, Bnb, Sol, Doge,...

Bitcoin’s negative open to December shows bears’ plan to pull BTC to the $80,000 support. Analysts are now calling for a bull market to end with a drop to $70,000 and below.

Bitcoin is facing significant selling at the start of the new week, with some analysts expecting a drop as low as $50,000.

Several altcoins turned down from their overhead resistance and are threatening to dip below their support levels.

Bitcoin (BTC) began December on a weak note, signaling that the bears are not willing to let go of their advantage. Veteran trader Peter Brandit said in a post on X that BTC’s chart shows support in the sub-$70,000 to mid-$40,000 zone.

Another analyst who is cautious in the near term is network economist Timothy Peterson. According to data posted on X by Peterson, BTC’s second half of 2025 is very similar to the second half of 2022. If history repeats, BTC may not see a sharp rally until well into Q1 next year.

A minor positive for the bulls is that crypto exchange-traded products attracted $1.07 billion in inflows last week, breaking their four-week losing streak, according to CoinShares data. That shows demand at lower levels.

Could BTC and the major altcoins hold on to their support levels? Let’s analyze the charts of the top 10 cryptocurrencies to find out.

The S&P 500 Index (SPX) rose above the moving averages on Tuesday and extended the recovery above the resistance line on Friday.

The bulls are expected to encounter significant selling at the 6,920 level. If the price turns down from the 6,920 resistance and breaks below the moving averages, it suggests a range formation. The index could then consolidate between 6,550 and 6,920 for some time. Sellers will be back in command if they yank the price below the 6,550 level.

Conversely, a break and close above the 6,920 resistance indicates the resumption of the uptrend. The index could surge to the 7,000 level and later to the 7,300 level.

Source: CoinTelegraph