[Analysis] "Bitcoin (BTC) Remains Bearish... Some Altcoins Could Drop Up to 30% More"
Summary
- Bitcoin still shows bearish signals, and it was reported that the decline in some altcoins could be greater.
- The analyst mentioned the possibility of Bitcoin falling to $88,000 and stated plans to maintain a hedge position.
- Some altcoins could additionally drop by 10-30%, and a short-term bottom is expected to form soon.
Bitcoin (BTC), which fell due to the impact of Trump's tariff shock, still shows bearish signals, according to analysis. There is also caution that if Bitcoin falls, the decline in some altcoins could be greater.
On the 7th, a famous cryptocurrency analyst, Il Capo Of Crypto, analyzed on X (formerly Twitter) that "although there was a rebound after the recent investor capitulation (mass selling), bearish signals are still detected in the market."
The analyst stated, "I will maintain a hedge position until the market gives a clear bullish signal or until Bitcoin drops to $90,000 to $88,000," adding, "If Bitcoin falls, some altcoins could additionally drop by about 10-30%."
He added, "If an adjustment actually comes, I will hold my holdings and attempt to buy at a low price," and "a short-term bottom will be formed soon."
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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