The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
The information provided on EL7.AI is for educational and informational purposes only and does not constitute financial advice.
Following weeks of price volatility in the crypto market, Bitget CEO Gracy Chen stated that Bitcoin's price could crash to the $50,000 level. Chen noted that this potential decline comes amid renewed selling pressure observed throughout the current week. The CEO identified three specific risk factors that could drive the price toward this support zone, despite the overall long-term bullish sentiment remaining intact across the sector.
This warning comes as the market experiences sharp fluctuations, with Bitcoin struggling to maintain levels above $65,000 during May. In comparison to peers, Ethereum has seen a similar 4% decline over the last 24 hours per market data, while JPMorgan analysts recently suggested that a lack of immediate positive catalysts could dampen momentum. Markets are also weighing the impact of global inflation data, which showed a slowdown in France to 2.4% in May 2026 according to economic calendar data.
Investors are now focusing on key technical support levels, with Bitcoin trading near critical zones as of the close on June 4, 2026. Traders should monitor the upcoming economic calendar, specifically speeches from Fed officials such as Kashkari on May 29, 2026, which directly impact risk appetite for digital assets. A breach of the $50,000 level could open the door for further correction, making the monitoring of spot ETF inflows vital in the coming days.
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