Bitcoin Death Cross Mirrors 2022 Crash, But Whales Eye $57K BTC Bottom

Bitcoin CME death cross mirrors 2022 as traders watch $48K downside risk and whale targets near $57K support.

Bitcoin is facing renewed selling pressure as analysts compare its CME chart with the 2022 decline. 

The current debate focuses on a bearish death cross, downside targets near $48,000, and whale views that suggest support may form around $57,000. 

Traders are watching these levels as market sentiment remains cautious across the broader crypto sector today.

Bitcoin CME Chart Brings Back 2022 Fears

Bitcoin traders are watching the CME chart after a death cross formed again. The setup has drawn comparisons with the sharp decline seen in 2022. 

At that time, Bitcoin moved from $30,000 to $17,000. That 2022 move marked a fall of about 42%. 

In the current setup, Bitcoin has dropped from $83,000 to $61,000. That equals a decline of about 26% so far.

THE BITCOIN CME DEATH CROSS IS PLAYING OUT EXACTLY AS 2022.

2022: $30K to $17K. -42% completed.
2026: $83K to $61K. -26% completed (so far).

Halfway through the same pattern.
$48K still loading.

Same chart. Same cross. Same direction.
The market doesn't forget. pic.twitter.com/A6s8oEjiNh

— Merlijn The Trader (@MerlijnTrader) June 6, 2026

Some analysts say the move may not be complete yet. They are now pointing to $48,000 as a possible next level. Merlijn The Trader said, “Same chart”. Same cross. Same direction.”

The comparison has added caution across the market. However, traders are also watching support zones below the current price. These areas may shape the next Bitcoin move.

Whales Watch Deep Support Near $57K

While the chart looks weak, some whale trackers see a different setup forming. They say Bitcoin is moving closer to deep cycle support. 

This zone has often appeared near past market bottoms. The long-term price curve remains a key guide for these traders. 

It has marked several large Bitcoin bottoms since 2012. Bitcoin is now moving into the lower half of that channel.

🐋 WHALE WATCH: Bitcoin looks terrible right now but the macro setup is prime.
We are approaching deep cycle support.
The risk profile is completely changing right in front of us.
Here are the three reasons I am looking for a major bottom.

The long term price curve is our first… pic.twitter.com/WzOO0S4lAh

— Whale Factor (@WhaleFactor) June 6, 2026

That area is often watched by long-term buyers. They usually enter when fear rises and prices fall. Still, traders warn that prices can remain unstable near these zones.

One whale-focused view places the main Bitcoin target near $57,000. The same outlook also lists Ethereum near $1,500. These levels are being watched as possible bottom zones.

Read Also:

BTC Losing Historic $60K Support Could Spark $1.2B Shock Before Bull Run

RSI and Market Fear Add to Bottom Debate

The monthly RSI is also part of the current debate. Traders say the indicator has moved into the low 40s. This range has appeared during past panic periods.

In earlier cycles, such readings came before long accumulation phases. Market watchers now compare the setup with the 2022 bottom. 

They are also tracking altcoins such as SUI and NEAR. Media fear has become another talking point. 

Some traders noted recent comments that Bitcoin is broken. They also pointed to public criticism around Michael Saylor.

For now, Bitcoin remains caught between two views. The death cross keeps pressure on the bearish case. Yet whale targets suggest some traders are preparing for a bottom.