Despite a recent rebound from last week’s lows, one of the crypto market’s most prominent bearish voices remains unconvinced that the worst is over.
Popular analyst known as “il Capo of Crypto” reiterated his grim outlook, warning followers that the recent recovery in Bitcoin’s price may be nothing more than a temporary pause before another major drop. Bitcoin, which briefly plunged to $100,000 last week, has since bounced back to around $107,415 — but il Capo sees no signs of a proper market capitulation.
He believes Bitcoin still has room to fall, potentially slipping below the six-figure mark again before testing a support zone between $92,000 and $93,000. If that level fails to hold, he expects an even deeper slide to the $60,000–$70,000 range, which he views as a possible bottoming phase.
Il Capo also issued a stark warning for altcoin investors. If Bitcoin begins its descent, he anticipates altcoins could suffer even sharper declines — possibly losing between 50% and 80% of their current value. According to him, the broader crypto market remains overexposed and vulnerable to another correction wave.
Since late May, the analyst has maintained a strong short position, particularly targeting altcoins. Despite signs of strength in recent price action, he remains firmly in bearish territory, suggesting that the true shakeout may still be ahead.
Alexander Stefanov
Reporter at Coindoo
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over 8 years of experience covering the crypto, blockchain and fintech industries, he deeply understands the complex and constantly 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 passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics.
Source: https://coindoo.com/analyst-warns-bitcoin-bounce-could-be-a-trap/