Glassnode Warns Bitcoin Could Fall to $10,000, Issues Crash Alert

▲ Bitcoin (BTC) Decline / ChatGPT-Generated Image

Bitcoin (BTC) has been gripped by a wave of shock across the market as pessimistic forecasts emerge that it could plunge to the $10,000 level, exposing serious structural flaws.

According to cryptocurrency media outlet CoinGape on February 12 (local time), on-chain data analytics firm Glassnode recently diagnosed that Bitcoin’s current market structure is showing vulnerabilities similar to those seen just before past major crashes. Glassnode warned that the current support level is precarious and that large-scale selling pressure could trigger a cascading price collapse.

Market analysts are presenting an extreme scenario in which Bitcoin could extend its losses to around $10,000 if it fails to break above key psychological resistance levels and turns downward. This would represent a massive decline from current prices, fueling fears that the long-term upward trend could be completely broken. With technical indicators collectively signaling entry into a bear market, even investors seeking to buy the dip are remaining cautious.

Glassnode identified a sharp drop in the number of active addresses and transaction volume within the Bitcoin network as key indicators. It explained that if new capital inflows dry up while existing holders accelerate their exit, the market’s fundamental strength that supports prices could be exhausted. Analysts stated, “The current market structure is extremely fragile and has entered a dangerous phase where prices could collapse uncontrollably even on minor negative news.”

Investor sentiment is also deteriorating to its worst levels. As institutional buying slows, signs of panic selling are already emerging among retail traders. The possibility that Bitcoin could fall to $10,000 is raising concerns about a liquidity crisis spreading across the broader cryptocurrency ecosystem, effectively freezing the market.

Bitcoin now stands at a critical crossroads to prevent further declines, and market participants are closely monitoring trends in Glassnode’s data. Upcoming macroeconomic indicators are expected to have a decisive impact on whether Bitcoin can maintain its last line of defense.

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