An analyst known for accurately predicting the start of Bitcoin’s massive 2021 bear market is taking an early look at where BTC is heading after Tuesday’s major breakdown.
The pseudonymous analyst DonAlt says he sees BTC initially bounding at support near $91,000.
But he believes that bounce will likely be short-lived, with BTC then hitting another low at around $82,000 sometime near April of 2026.
DonAlt says he hopes he’s just being stupidly bearish, and the actual bottom is far less harsh.
“[This is] my current guess on how this will play. Hopefully I’m just beartarding the bottom.”
The widely followed trader capitalized on Ethereum’s big price drop by shorting the second-largest crypto asset by market cap.
At this point, he says he’s done shorting ETH and is now taking a step back to reassess.
For now, he believes ETH will only look bullish if it can reclaim $3,800.
At time of publishing, Ethereum is at $3,247, down 9.7% in the last 24 hours.
Bitcoin is at $100,812, down 5% in the last 24 hours.
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