Following the Bitcoin price crash back below $70,000, bearish predictions have cropped up again, with analysts pushing for further decline. Crypto analyst Xanrox highlights a possible Bitcoin price crash in a recent analysis, explaining why the leading cryptocurrency is likely to go down, then continue upward. And the most interesting part of this prediction is the short timeline when the BTC price is expected to crash by around 40% again.
Why Bitcoin Price Is Headed For $42,000
So far, there have been multiple support points where the Bitcoin bears have met resistance from the bulls. The most recent of this is the $62,000 support that the price kept bouncing off of. However, crypto analyst Xanrox doesn’t see this support lasting very long for the digital asset.
This support lies above the 200-Weekly Moving Average, and the 0.618 Fibonacci level as well, which would explain its strength. But even this is not expected to keep the price from bleeding further. Instead, it makes it the point for bears to beat in order to begin what could be the last wave of crashes.
Presently, the crypto analyst believes that the Bitcoin price is still in free-fall mode since there is nothing holding it back. This ‘free fall mode’ is categorized by the lack of a major upside recovery, erasing gains shortly after a small bounce, and falling without seeing any uptrends.
Once the support at the 0.618 Fib level and the 200-Weekly MA is broken, possibly after a price bounce, then the main crash begins. The target of this cash lies 40% below the current price level, putting it below $50,000. The crypto analyst predicts that the Bitcoin price could go as low as $42,000 before hitting support again.
The $42,000 level is important because it is an important point for large whales, Xanrox explains. This is due to a large number of stop losses being placed at this level, and it is below the previous Wave 4 bottom. Additionally, this is all expected to play out in 2026, with the crypto analyst setting the third quarter of the year for the end.
Already, altcoins are bleeding, but the analyst says that there will be no altcoin season at all if this plays out. This is because, despite the Bitcoin price falling, altcoins have struggled even more, and the BTC dominance remains on the rise. In these kinds of conditions, an altcoin market recovery is very rare.
Featured image from Dall.E, chart from TradingView.com
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