The Principal Research Analyst at Nansen told Stocktwits that a deeper selloff in U.S. tech stocks could push Bitcoin below $60,000.
- Principal Research Analyst Aurelie Barthere noted that most of the “bad news” has already been priced into crypto markets.
- According to her, the primary risk facing cryptocurrencies is the weakness in equities, especially when it comes to technology stocks.
- Software stocks currently lead year-to-date losses in the S&P 500.
Bitcoin (BTC) would be headed below $60,000 if the weakness in the U.S. technology stocks worsens, according to Nansen analyst Aurelie Barthere.
According to her, analysts are watching for signs of trend reversal as Bitcoin trades between $60,000 and $70,000 but if U.S. tech equities stage a sharp drop, it could lead to Bitcoin’s price dropping below $60,000.
Software names have been the biggest drag on the S&P 500 this year, led by Intuit (INTU), which is down 38.25% year-to-date entering March. Workday Inc. (WDAY), Gartner (IT), The Trade Desk (TTD), and AppLovin Corporation (APP) also ranked among the S&P 500’s five biggest losers so far in 2026.
When Will Bitcoin’s Price Rise?
“Currently, BTC is trading between $60k and $70k,” Barthere told Stocktwits over email. “We are watching for higher "lows" before asserting that we are seeing a trend reversal or bottoming.”
According to her, most of the "bad news" – like the CLARITY Act delay, hawkish Kevin Warsh as U.S. President Donald Trump’s pick for Fed Chair and the uncertainty of the mid-terms – has already been priced in. “This is usually a great set-up for a contrarian move,” she said.
When Could Bitcoin’s Price Fall?
The S&P 500 has edged just 0.49% higher so far this year while the Nasdaq has fallen 2.47%. Silver, in comparison, has gained more than 33% while gold’s price have surged more than 20%.
“I do not like the price action in U.S. – and especially U.S. Tech – equities, which struggle to reach new highs. Were these to correct significantly, I think this would bring BTC below $60k,” Barthere warned.
Bitcoin Tumbles As U.S.-Iran Tensions Spike
Bitcoin’s price tumbled 2.2% in the last 24hours, falling below $66,000. On Stocktwits, retail sentiment around Bitcoin trended in ‘bullish’ territory over the past day.
Solana (SOL) and Ethereum (ETH) led losses among crypto majors, both down over 4%, amid rising geopolitical tensions in the Middle East after the U.S. and Israel launched military strikes on Iran. In a public address online, U.S. President Donald Trump said that the “combat operation” would not stop until “all objectives” are met. The overall cryptocurrency market slipped 1.1% in the last 24 hours to around $2.3 trillion.
Meanwhile, INTU’s stock was down 2.23% in overnight trade, with retail sentiment around the company on Stocktwits falling to ‘bullish’ from ‘extremely bullish’ over the past day. Chatter remained at ‘extremely high’ levels. The iShares Expanded Tech-Software Sector ETF (IGV) was down 1.94% after hours, with retail sentiment showing a similar shift to ‘bullish’ from the ‘extremely bullish’ zone over the past day.
Read also: Crypto Market Tumbles – $350M Liquidated After Trump Vows To Continue Iran Strikes
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