dailyhodl.com
A widely followed cryptocurrency analyst and trader is leaning bearish on Bitcoin ($BTC) over the short term.
The analyst pseudonymously known as Bluntz tells his 307,000 followers on the social media platform X that Bitcoin’s price action is “concerning” amid the flagship crypto asset failing to hold above the $100,000 level.
According to the pseudonymous analyst, Bitcoin is likely to head lower before appreciating to a new all-time high over the next couple of weeks. Based on Bluntz’s chart, Bitcoin could fall to a key support level before rising in a series of waves to reach a new all-time high.
“For anyone curious, this is how I think the next few weeks [will] play out for $BTC.”
Bluntz practices the Elliott Wave theory, which states that a bullish asset tends to witness a five-wave rally after going through an ABC correction. Looking at the trader’s chart, he seems to suggest that $BTC will drop to $90,000 to complete an ABC corrective wave before igniting a five-wave surge above $115,000.
Bitcoin is trading at $95,325 at time of writing, down by around 8% from the 2025 high of around $102,700 reached on January 7th.
Also holding a short-term bearish view of Bitcoin is the pseudonymous analyst Rekt Capital.
The pseudonymous analyst tells his 528,400 followers on the social media platform X that Bitcoin could trade in a range of between a high of $101,165 and a low of $91,000.
According to Rekt Capital, the Bitcoin bull market still has more months to go before the trend shifts in favor of $BTC bears.
“2025 will likely see the $BTC bull market peak and the beginnings of a brand new bear market.
The majority of the bear market will take place however in 2026.
The bear market would last some 365+ days and be between -65% to -80% deep.”