Sentiment around Bitcoin has taken a big hit in recent weeks after the price fell below $100,000. This has led to a series of bearish predictions for the cryptocurrency, as many analysts and investors believe the crash is far from over. One analyst, who goes by Mr. Wall Street on the X platform (formerly Twitter), has predicted a step decline, showing how low the Bitcoin price will go and when the crash is expected to end.
Bitcoin is trading below $60,000?
In post, Mr. Wall Street expressed that the Bitcoin price has already reached its cycle top, and therefore there is no other option but to go down. The chart points to possible price reversals for the cryptocurrency, but ultimately these are all expected to be short-lived and precede further crashes.
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As the Bitcoin price struggles to regain $100,000, the crypto analyst warns that it is more likely to crash further, highlighting the $74,000-$82,000 level as the next major area of focus. This would mean that Bitcoin could see a price drop of more than 10% from this level.
However, the analyst does not stop there as it appears that the Bitcoin price is heading for a new bear market period. The year is quickly coming to an endand the crypto analyst expects the year 2026 to be even more bearish.
Mr. Wall Street believes that the Bitcoin price could fall below $60,000 next year and even reach $54,000. The timeline for this is the last quarter of 2026, but this would also be the low point. Given all this, the analyst believes that the $54,000-$60,000 range will be the best time to get into the asset and position for the next wave of upside.
Head and shoulders pattern supports decline
The bearish sentiment is echoed by others such as Leshka.eth, whose recent analysis also points to a possible price drop. The analyst shows that Bitcoin completed a head and shoulders pattern, with the neckline firmly in place. This has put the price in a state of reset, and this reset is far from over.
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Interestingly enough, also Leshka.eth states that the Bitcoin price will crash by more than 40% compared to the highest prices ever. This was highlighted in an earlier post that predicts BTC is headed to a low of $40,000. The timeline also suggests this will happen sometime in 2026, before a bottom is reached.
Featured image of Dall.E, chart from TradingView.com