A prominent crypto trader known as Bluntz has predicted bearish trends for the broader cryptocurrency market.
The analyst predicts “a minimum of two weeks of broader market decline.” He also said that he has transferred most of his crypto assets into stablecoins, saying that he will not be taking long positions in the near future.
Bluntz specifically stated that Bitcoin (BTC) could experience a downtrend with volatile movements for about two more weeks, potentially bottoming out around $60,000 before an eventual recovery.
His analysis of the charts suggests that Bitcoin could reach a new all-time high of $82,000, representing a more than 25% increase from its current price, which hovers above $64,500.
finally back form holidays and thankfully didnt mis too much.
i think $btc completed a nice clear 5 wave rise from the 54k lows that took 24 days and were currently only 2 days into an abc correcting that move.
we will probs last another 2 weeks or so of downward chop before… pic.twitter.com/sAnK9U2g92
— Bluntz (@Bluntz_Capital) August 1, 2024
Swan, a Bitcoin-focused financial firm, has issued a striking market update suggesting that the current BTC cycle isn’t just another repeat of the past—it might be the last of its kind.
Ross Ulbricht, founder of the infamous Silk Road marketplace, is back in the headlines after receiving a mysterious transfer of 300 BTC—valued at roughly $31 million.
Bitcoin could be heading for a notable dip if it fails to stay above a key price zone, according to market watcher DonAlt.
A new report from Cane Island reveals a startling truth about Bitcoin’s supply: by late 2025, over 7 million BTC could be permanently lost—more than one-third of all coins ever mined.