Bitcoin Faces Potential Crash to £47K, Analyst Warns

Bitcoin may be on the brink of a significant downturn, with trader Tony Severino warning that the leading cryptocurrency could plunge to £47,000 ($60,000) if it fails to set a new all-time high soon.

Severino’s outlook contrasts with bullish market sentiment earlier this year, when Bitcoin soared past £78,000 ($100,000) and briefly touched £96,000 ($123,000). However, technical indicators and declining momentum now suggest the rally could be overextended.

Market analysts cited by MarketWatch highlighted a crucial support zone around £57,500 ($73,745). A breakdown below this level could lead to further declines toward £44,000–£46,000 ($55,000–$57,000) — with Severino outlining an even deeper correction.

Despite these warnings, others remain optimistic. Analysts at Finder see Bitcoin reaching £113,000 ($145,000) by year’s end, while Bernstein and Cantor Fitzgerald suggest long-term targets between £156,000 and £781,000 ($200,000–$1 mln).

For UK investors, a plunge to £47,000 would erase nearly half of recent BTC gains and deliver a serious blow to portfolios. Still, some see a sharp pullback as a rare buying opportunity, especially as institutional adoption continues to grow.

Whether it’s a warning or a wake-up call, the £47K scenario underscores the risks of volatility in an increasingly mainstream crypto market.