Bitcoin Price Crash Not Over? Analyst Predicts Another 30% Crash As Longs Pile Up Again

Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and publishing How Our News is Made Strict editorial policy that focuses on accuracy, relevance, and impartiality Ad discliamer Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio. Top crypto analyst Capo has indicated that the Bitcoin price crash is not over. This comes amid a rebound in the flagship crypto, which has climbed from the lows recorded during the recent crypto market crash.  Analyst Predicts 30% Drop For The Bitcoin Price

In his latest market update, Capo predicted that the Bitcoin price could still drop another 30%. This came as he noted that the flagship crypto remains above $100,000, far from the $60,000 to $70,000 range that would align with a complete market correction. He added that until then, the downside potential remains significant.  Related Reading Bitcoin Short-Term Prediction: Why The Price Will Cross $140,000 By The End Of October 3 days ago

This market update comes amid the crypto market crash last Friday, when Bitcoin fell to as low as $104,000 following Trump’s announcementof a 100% tariff on China. $19 billion was wiped out from the crypto market, marking the largest liquidation event ever. Capo opined that the event was likely the ‘pre-Black Swan event’ and the first phase of something larger. 

The analyst noted that altcoins have already seen historic capitulation, but that several major coins still haven’t fully flushed. Capo asserted that the wicks should eventually be filled and that lower levels may still be ahead for the Bitcoin priceand the broader crypto market. Meanwhile, he mentioned that a brief consolidation over the weekend was likely but that more downside should follow this week as the global markets open. 

The Bitcoin price bounced over the weekend, reaching as high as $116,000, as long positionspiled up again following the wipeout. Crypto analyst The King Fisher highlightedupside liquidity of up to $118,000, noting that “weekends are for BTC range liquidations fishing.” It is worth mentioning that BTC had also rebounded thanks to Trump’s statementon Sunday, in which he allayed fears of a full-blown trade war with China.  Bull Market Is Not Done Yet

Crypto analyst Titan of Crypto assuredthat the bull market is not yet, indicating more upside for the Bitcoin price. The analyst explained that the bull marketstarts when BTC reclaims its 50 SMA and that the bear market starts when it loses it. The flagship crypto also achieved a weekly candle close above $112,000, which confirmed Titan of Crypto’s thesis.  Source: Chart from Titan of Crypto on X

Meanwhile, crypto analyst Jelle notedthat the Bitcoin price is back at the $115,000 resistance area. He further remarked that a successful reclaim of this level could send the flagship crypto to a new all-time high (ATH). BTC had hit a new all-time highabove $126,000 before last week’s crash, which erased its October gains.  Related Reading Here’s Why The Bitcoin, Ethereum, And Dogecoin Prices Are Crashing 2 days ago

At the time of writing, the Bitcoin price is trading at around $115,100, up over 3% in the last 24 hours, according to datafrom CoinMarketCap. BTC trading at $115,151 on the 1D chart | Source: BTCUSDT on Tradingview.com Featured image from Pixabay, chart from Tradingview.com