A broadly adopted cryptocurrency analyst and dealer is leaning bearish on Bitcoin (BTC) over the quick time period.
The analyst pseudonymously generally known as Bluntz tells his 307,000 followers on the social media platform X that Bitcoin’s value motion is “regarding” amid the flagship crypto asset failing to carry above the $100,000 stage.
In accordance to the pseudonymous analyst, Bitcoin is prone to head decrease earlier than appreciating to a brand new all-time excessive over the subsequent couple of weeks. Primarily based on Bluntz’s chart, Bitcoin might fall to a key assist stage earlier than rising in a sequence of waves to achieve a brand new all-time excessive.
“For anybody curious, that is how I believe the subsequent few weeks [will] play out for BTC.”
Bluntz practices the Elliott Wave concept, which states {that a} bullish asset tends to witness a five-wave rally after going via an ABC correction. Trying on the dealer’s chart, he appears to recommend that BTC will drop to $90,000 to finish an ABC corrective wave earlier than igniting a five-wave surge above $115,000.
Bitcoin is buying and selling at $95,325 at time of writing, down by round 8% from the 2025 excessive of round $102,700 reached on January seventh.
Additionally holding a short-term bearish view of Bitcoin is the pseudonymous analyst Rekt Capital.
The pseudonymous analyst tells his 528,400 followers on the social media platform X that Bitcoin might commerce in a spread of between a excessive of $101,165 and a low of $91,000.
In accordance to Rekt Capital, the Bitcoin bull market nonetheless has extra months to go earlier than the development shifts in favor of BTC bears.
“2025 will probably see the BTC bull market peak and the beginnings of a model new bear market.
Nearly all of the bear market will happen nevertheless in 2026.
The bear market would final some 365+ days and be between -65% to -80% deep.”
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