A widely followed crypto analyst known for accurately calling Bitcoin's 2025 price peak has issued a bearish forecast for the cryptocurrency.
Trader Rekt Capital, who has 563,200 followers on X, warned that Bitcoin could fall into the $60,000 range as it struggles to maintain resistance at $82,500. According to the analyst, Bitcoin's weekly close fell below this level last week and has treated it as resistance since then.
Technical Analysis and Patterns
Rekt Capital suggests Bitcoin is showing signs of reverting into a $60,000 to $80,000 macro range to potentially develop a right shoulder formation. Based on the trader's chart analysis, Bitcoin could drop to as low as $63,000 to complete an inverse head-and-shoulders pattern, which in technical analysis is considered a bullish reversal formation that could signal the end of a downtrend.
The analyst noted that Bitcoin historically tends to correct below its 50-week and 21-week exponential moving averages during the early stages of new bull markets. Rekt Capital stated that Bitcoin is approaching both of these averages for a retest.
Corroborating Warnings
Crypto strategist Bluntz has issued similar warnings, noting that Bitcoin, Ethereum, and Solana have all completed five-wave rallies and are likely to experience corrections before the next upward leg begins. According to Bluntz's analysis, Bitcoin could retrace below $70,000 to complete an ABC corrective move.
At the time of reporting, Bitcoin was trading at $80,597.
