Bitcoin price may hit $24K if US stock market crashes by 50%, analyst warns
Cointelegraph 2026-06-21 14:21:06
Context: Technical analyst Jesse Olson warns that Bitcoin's price may plummet to $24,000 if the US stock market experiences a significant crash of over 50%. This forecast is based on his proprietary Market Sniper Pro VWAP indicator, which suggests a potential long-term support zone for Bitcoin. Olson's warning comes as veteran market observers flag concerns about a possible market downturn.
Key Facts
- Bitcoin's price could tumble by over 60% to under $24,000 in 2026 if the stock market experiences a major crash, according to technical analyst Jesse Olson.
- Olson's forecast is based on a long-term volume-weighted support line from his proprietary Market Sniper Pro VWAP indicator, which suggests a potential long-term support zone for Bitcoin.
- The Coinbase Premium Index, which tracks Bitcoin's price gap between Coinbase and Binance, has largely remained negative so far in 2026, indicating weaker professional buying or heavier selling on Coinbase.
- US-based spot Bitcoin ETFs have recorded $4.68 billion in net outflows since May, reflecting weaker demand from professional investors and other ETF buyers.
- Veteran market observers, including GMO co-founder Jeremy Grantham, Michael Burry, and economist Gary Shilling, have warned about a possible market downturn, with Shilling predicting a US recession by year-end and a 20%-30% decline in stocks.