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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
06/08/2026

Analyst: $92.6K BTC Target Possible If 200-Week SMA Holds Despite Nasdaq Drop

What happened: Technical analyst Filbfilb notes that Bitcoin is defending its 200-week simple moving average (SMA) near $61,880—a level that has historically marked cycle bottoms.

Analyst: $92.6K BTC Target Possible If 200-Week SMA Holds Despite Nasdaq Drop

What happened: Technical analyst Filbfilb notes that Bitcoin is defending its 200-week simple moving average (SMA) near $61,880—a level that has historically marked cycle bottoms. If this support holds, the next major upside target is the 50-week SMA at $92,630. Meanwhile, the Nasdaq fell over 4% on Friday, its steepest drop since April 2025, raising concerns about broader market contagion. The BTC/Nasdaq ratio's RSI hit a record-low 14.70, a level that previously preceded a 30%+ BTC rebound.

Why it matters: This technical setup offers a contrarian bullish thesis: while institutional flows are negative, price structure and relative strength indicators suggest a possible rebound. The tension between on-chain/ETF flows and technical signals underscores the market's uncertainty. If the 200-week SMA fails, downside risk increases; if it holds, a sharp rally could follow.

Source: Cointelegraph