Altcoin Season Not Coming? Bitcoin Risks Crash To $98,200 With Negative Sentiment
Main Idea
A crypto analyst warns of a potential Bitcoin price crash to $98,200 due to negative sentiment and technical indicators, while also suggesting that an altcoin season may be delayed.
Key Points
1. Bitcoin (BTC) is at risk of crashing to $98,200, as indicated by negative sentiment and Ichimoku Cloud patterns.
2. Analyst Dr. Cat compares current market conditions to April 2024, when a similar setup led to a significant crash.
3. Altcoin season may be delayed, with Bitcoin dominance expected to surge, limiting upside potential for altcoins in the near term.
4. The broader crypto market cap excluding Bitcoin stands at $1.12 trillion.
5. Technical indicators, such as the 3-week Kijun Sen and Weekly SSB, suggest structural bearishness for Bitcoin.
Description
A crypto analyst has issued a strong warning for Bitcoin (BTC) , forecasting a potential crash to new lows as negative sentiment mounts. The analyst has also highlighted the possibility of an even more delayed altcoin season as the broader market flips bearish. Analyst Calls $98,200 Bitcoin Price Crash With the Bitcoin price still consolidating above $100,000 after experiencing major losses in the last month, concerns have been rising about the flagship cryptocurrency’s near-term outlook. Dr. Ca...
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