Bitcoin’s rally is showing cracks, with analysts warning the downturn could deepen.
Spectra Markets president Brent Donnelly says the cryptocurrency is behaving like a risk asset rather than a safe haven, and he’s prepared to buy only if prices tumble into the $94,000–$82,000 range.
The bearish view is rooted in both technical and seasonal factors. A double top has formed on Bitcoin’s chart, and the coin recently failed to hold support near $112,000 – a setup that often precedes sharper selloffs.
Donnelly also argues that Bitcoin’s halving cycle, which historically signaled the end of bull markets about a year after the event, may now be pointing toward a prolonged downturn.
Adding to the pressure are weak U.S. employment figures and speculation around Federal Reserve rate cuts. While looser policy might normally boost risk appetite, Donnelly suggests it could instead highlight economic weakness and sap demand for Bitcoin in the short term.
If the analysis proves correct, Bitcoin’s next major test may come well below current levels, with $82K looming as a possible landing zone.
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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
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