Bitcoin holds above $72K, analysts warn of 2022-style crash

Bitcoin traded above $72,000 on Thursday, but some analysts say the cryptocurrency’s current price pattern resembles the setup that preceded the major market crash in 2022.

Crypto analyst Ali Martinez, known online as Ali Charts, described the current market structure as “déjà vu,” suggesting the chart is following a similar path to the one that led to Bitcoin’s sharp decline several years ago.

Another analyst, Crypto Patel, outlined a conditional roadmap for Bitcoin based on key support and resistance levels that traders are closely watching.

Their views come after a strong rally last year, followed by a pullback that has left traders questioning whether the latest gains can be sustained.

Key price levels shaping market outlook

According to Ali Martinez, Bitcoin’s chart now resembles the pattern seen before the 2022 crash, when the cryptocurrency fell from around $69,000 to about $16,000 after breaking a major moving average.

His analysis suggests the current cycle peaked around $126,000 in 2025 before rebounding below a similar technical level, potentially mirroring the earlier market structure.

Crypto Patel, however, presented a more balanced outlook, noting that Bitcoin recently rebounded from a key support level around $62,000, a move that represents roughly a 23% recovery.

He said if the $60,000 support level holds, the next targets could be between $80,000 and $92,000. However, if the level fails, analysts could shift their focus to a possible “institutional buy zone” between $45,000 and $50,000.

Institutional demand remains strong

Despite concerns about a possible downturn, institutional demand for Bitcoin remains strong.

Data from BlackRock and other spot ETF providers show continued inflows into Bitcoin investment products.

According to market data platform Sosovalue, spot Bitcoin exchange-traded funds recorded about $461.77 million in net inflows on Wednesday, with BlackRock’s fund accounting for roughly $306.58 million of the total.

Meanwhile, technical indicators tracked by crypto exchange Bitget currently lean bullish. The platform’s one-day technical rating shows a “Buy” signal overall, with most oscillators and moving averages indicating positive momentum.

Even so, analysts say the $60,000 level remains a crucial support point that could determine whether Bitcoin continues its upward trend or enters another deeper correction.

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