Crypto analyst Justin Bennett has issued a warning to Bitcoin investors regarding potential factors that could lead to further decline in the flagship cryptocurrency. According to Bennett, the current outlook for Bitcoin is not optimistic, and a bullish reversal may not be on the horizon anytime soon.
In a recent post on X (formerly Twitter), Bennett highlighted the “relative weakness” in the crypto market, indicating that if the stock market experiences a downturn, both Bitcoin and the broader crypto market could face significant losses. Bennett emphasized the correlation between the stock market and the crypto market, noting that while stocks like the S&P and Nasdaq have been trending upward, the crypto market has not been faring as well.
Bennett also expressed concerns about the current state of Bitcoin’s chart, suggesting that the cryptocurrency is unlikely to break above its current resistance level in the near future. He maintained a bearish stance on Bitcoin, cautioning that anyone bullish on the cryptocurrency at its current price level is essentially bullish on resistance.
Despite Bennett’s bearish outlook, other analysts believe that Bitcoin’s recent downward trend is temporary and that a bullish trend will resume soon. Crypto analyst Rekt Capital previously warned that price declines like the one Bitcoin is currently experiencing are necessary for the cryptocurrency to establish a new uptrend.
Crypto analyst Don Alt recently suggested that Bitcoin is nearing the end of a 100+ day range and is poised for its next leg up. Alt predicted that the upcoming breakout would be trend-forming, potentially leading to a sustained rally similar to previous cycles. Another analyst, MikyBul Crypto, echoed this sentiment, suggesting that Bitcoin’s current price action is a prelude to a significant rally akin to the post-halving surge in 2016.
Based on analysis from Rekt Capital and other analysts, Bitcoin’s market peak could occur in September or October 2025 if it follows previous halving cycles. Predictions indicate that Bitcoin could surpass $100,000 before reaching the peak of this bull run.
As of the latest data from CoinMarketCap, Bitcoin is trading around $63,800, representing a 2% decrease in the past 24 hours. Despite the current price drop, analysts remain optimistic about Bitcoin’s long-term prospects, anticipating a resurgence in the cryptocurrency’s value in the near future.
