The Bitcoin 2024 conference caused a 30% price crash – can the bulls escape this year?

Basic Points:

• Bitcoin rebounds from another support retest, but the fear of a Nashville conference-induced comedown is growing.

• Bitcoin’s largest gathering tends to accompany BTC price weakness.

• BTC price action may and will continue to experience drawdowns of 10-20%, review stresses.

Bitcoin (Btc) Circle $ 110,000 on May 27 Wall Street Open amid concerns over a 30% BTC price crash.

Bitcoin’s “memory” may remember 2024 crashing

Data from Cointelegraph Markets Pro and Tradingview BTC/USD has shown recovery after the latest retest support of around $ 107,000.

Like big entrepreneurs The volatility is taken advantage ofCommentators on the market are open to potential risk factors, they come from many sources.

The uncertainty of the US trade tariffs and the return of Wall Street after the day of recall day accompanied by the ghost of BTC price losses from a year ago.

In July 2024, the Bitcoin 2024 conference in Nashville, Tennessee The basis is formed For Snap Downside in early August took BTC/USD down 30% from $ 70,000 to $ 49,000.

Now, in the same event conducted for 2025, some wonder if the market will experience an unpleasant deja-VU feeling.

“Long-term near-term vols suggest that entrepreneurs position the head risk before the Bitcoin conference in Las Vegas, scheduled for 27 to 29 May. The focus is already built around the event of the event, which includes JD Vance, Michael Saylor, Donald Trump Jr., and Claim of the trading firm is its capital on the latest bulletin on the Telegram channel.

“July’s Nashville Bitcoin’s previous conference offers a useful similarity. At this time, a key tone of President Trump in conjunction with a sharp spike in 1-day indicated vols of over 90, followed by a speedy reversal and a nearly 30% BTC decline for two days.

A 30% retracement from current levels will return Bitcoin to $ 77,000 – around the area where it Set a multimonth bottom In April.

Continuing, Crypto businessman, analyst and businessman Michaël Van de Poppe repeated the fall from $ 110,000 to the mid-$ 70,000 incidence occurred once.

“Corrections occur and they will continue to happen,” he said The followers of X on May 26, saying that a correction of up to 20% “should not disappoint you.”

Number Cointelegraph reportedVarious resources suggested that the Bitcoin Bull market was in the final uprising before a soaked recurrence.

Liquidity “Magnet” offers $ 106,000 target

Drawing on short -term price actions, popular businessman Daan Crypto Trades is among the users of Exchange Order Book Liquidity to identify potential targets.

Related: BTC price is looking for $ 155k ‘trigger’ – 5 things to know in Bitcoin this week

“The longer the price goes around the region of this price, the thicker the liquidity clusters above and below will be,” he, ” Summary to the day next to the data from the resource tracking Coinglass.

“There is a huge cluster of liquidity at ~ $ 106k and quite a few sitting from $ 111k and up. Watch when prices are either any of these regions like those usually acting as a magnet when the price is near.”

The coinglass itself showed the first chunk of Ask Liquidity taken at the start of the US trading session.

This article does not contain investment advice or recommendations. Every transfer of investment and trading involves risk, and readers should conduct their own research when deciding.