The post Here’s Bitcoin’s ‘do or die’ level to watch or crash to $50,000 appeared on BitcoinEthereumNews.com. As Bitcoin (BTC) continues to maintain a recovery above the $90,000 mark, a market strategist has identified price levels to watch for the asset or risk of crashing to $50,000. In this case, Bloomberg Intelligence senior commodity strategist Mike McGlone has noted that the asset is at a critical crossroads, identifying the $94,000–$84,000 zone as the defining “do or die” range that will determine its next major move, he said in an X post on December 8. Bitcoin price analysis chart. Source: Bloomberg Intelligence The strategist noted that this band is the threshold separating a renewed bullish recovery from a deeper structural decline. His analysis pointed to approximately $50,100 as a key mean-reversion target, derived from the average of Bitcoin’s yearly highs between 2021 and 2023 combined with its 2024 low, a level that comes into play if momentum continues to deteriorate. Notably, this outlook aligns with analysis showing Bitcoin’s yearly candles losing momentum after the explosive gains of 2020 and 2021, with the current bar turning down even as broader risk assets attempt to stabilize.  Its long-running outperformance against the S&P 500 is also fading, reflected in a flattening and slight rollover in the Bitcoin-to-S&P ratio, signaling that the asset that once led markets higher may now be guiding them lower. Bitcoin reverses losses  This outlook comes as Bitcoin climbed, reversing last week’s pullback as traders held firm to expectations that the U.S. Federal Reserve will cut interest rates this week. The advance was supported by softer U.S. economic data that strengthened bets on a 25-basis-point cut at the Fed’s meeting ending December 10, with cooling inflation, reflected in the latest core PCE reading, bolstering confidence in a policy shift. Generally, lower borrowing costs favor risk assets such as cryptocurrencies, but gains remained modest as mixed signals from policymakers… The post Here’s Bitcoin’s ‘do or die’ level to watch or crash to $50,000 appeared on BitcoinEthereumNews.com. As Bitcoin (BTC) continues to maintain a recovery above the $90,000 mark, a market strategist has identified price levels to watch for the asset or risk of crashing to $50,000. In this case, Bloomberg Intelligence senior commodity strategist Mike McGlone has noted that the asset is at a critical crossroads, identifying the $94,000–$84,000 zone as the defining “do or die” range that will determine its next major move, he said in an X post on December 8. Bitcoin price analysis chart. Source: Bloomberg Intelligence The strategist noted that this band is the threshold separating a renewed bullish recovery from a deeper structural decline. His analysis pointed to approximately $50,100 as a key mean-reversion target, derived from the average of Bitcoin’s yearly highs between 2021 and 2023 combined with its 2024 low, a level that comes into play if momentum continues to deteriorate. Notably, this outlook aligns with analysis showing Bitcoin’s yearly candles losing momentum after the explosive gains of 2020 and 2021, with the current bar turning down even as broader risk assets attempt to stabilize.  Its long-running outperformance against the S&P 500 is also fading, reflected in a flattening and slight rollover in the Bitcoin-to-S&P ratio, signaling that the asset that once led markets higher may now be guiding them lower. Bitcoin reverses losses  This outlook comes as Bitcoin climbed, reversing last week’s pullback as traders held firm to expectations that the U.S. Federal Reserve will cut interest rates this week. The advance was supported by softer U.S. economic data that strengthened bets on a 25-basis-point cut at the Fed’s meeting ending December 10, with cooling inflation, reflected in the latest core PCE reading, bolstering confidence in a policy shift. Generally, lower borrowing costs favor risk assets such as cryptocurrencies, but gains remained modest as mixed signals from policymakers…