Bitcoin Price Crash Looming? Analyst Predicts 46% Plunge Due to Muted Volume

Bitcoin Price Could Plunge to $35,720: Is a Crash Imminent?

A prominent crypto analyst, Alan Santana, has raised a red flag, predicting a potential Bitcoin price crash to new lows around $35,720. His bearish outlook stems from muted buying volume and potential manipulation by whale investors, casting a shadow over the crypto market’s current bullish sentiment.

Santana’s analysis paints a stark picture. Despite 75 days of bullish activity, Bitcoin hasn’t reached projected new price peaks, currently trading below $70,000. While the cryptocurrency achieved an all-time high (ATH) of over $73,000 in March, Santana believes the overall market has shifted to a bearish stance.

He attributes this lack of momentum to muted whale activity. Santana argues that the absence of buyers and buying volume at current market levels indicates a significant lack of bullish momentum. As a result, he forecasts a potential 46.68% crash, dropping Bitcoin’s price nearly in half.

This potential price drop could trigger panic and fear among retail and whale investors, potentially leading to a cascade effect across the crypto market.

Market Manipulation and Bearish Sentiment

Santana’s analysis has not been met without criticism. While some crypto community members point to Bitcoin’s recent price increase and positive market sentiment, Santana remains steadfast in his bearish outlook.

He maintains that market manipulation by large holders, or whales, could be contributing to the current bearish price action. These whales, he argues, might be artificially inflating Bitcoin’s price to lure retail investors into buying, triggering a bullish wave.

However, Santana warns that if there are no genuine buyers, this manipulation could backfire, potentially leading to losses for the manipulators. He emphasizes that retail investors are becoming increasingly cautious, recognizing past cycles of manipulation and hype.

While Santana’s bearish prediction has sparked debate, it underscores the importance of remaining vigilant and conducting thorough research before making any investment decisions in the volatile cryptocurrency market.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. Always conduct your own research and consult with a qualified professional before making investment decisions.