Well-known crypto trader il Capo of Crypto has reiterated his cautious stance on Bitcoin, saying that despite the recent pullback and mounting bearish signals, many market participants continue to “buy the dip.”
In his latest market update, the analyst pointed out what he believes is a growing risk of a severe market shock.
He described the possibility of a “black swan” scenario that could send Bitcoin tumbling into the $60,000–$70,000 range. Under such conditions, he estimates that most altcoins could lose between 50% and 80% of their current value.
According to il Capo, the coming days could prove decisive, with heightened volatility expected.
He emphasized that this week’s market action might set the tone for the rest of the quarter.
While his short-term outlook remains bearish, the analyst also hinted at a silver lining.
If the deep correction he anticipates does play out, he believes it could pave the way for an exceptionally strong recovery phase — one that could fuel an extended bullish cycle once the market stabilizes.
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Source: https://coindoo.com/major-bitcoin-drop-could-trigger-altcoin-crash-warns-crypto-expert/