Analyst Suggests Bitcoin Bounce May Be Temporary Amid Potential Further Declines

Key Points

1. Bitcoin's price rebounded from $100,000 to approximately $107,415, but analyst il Capo of Crypto warns this may not indicate a sustained recovery.

2. The analyst highlights the lack of a decisive market capitulation, which typically signals a genuine bottom, increasing the risk of further declines.

3. Critical support for Bitcoin is identified between $92,000 and $93,000; a break below this range could lead to a more pronounced decline toward $60,000–$70,000.

4. Altcoins are also vulnerable, with potential losses of 50% to 80% if Bitcoin resumes its downward trajectory.