Crypto Market Declared Extremely Bearish, Analysts Debate Outcome for the Rest of the Year

Crypto market declared extremely bearish by reputed crypto analyst

He explains the reasoning behind why he expects a major market correction

Analysts remain eager to see the bullish recovery and pump phase in Q4.

The crypto community comes together to debate how the market will play out for the rest of the year. One reputed crypto analyst known for his silver-tongued predictions shares a short report where the crypto market declared extremely bearish. He goes on to share interesting details revealing a heavy short-term bear market, where the price of the pioneer crypto asset could fall back to 5-digit prices

Crypto Market Declared Extremely Bearish

The price of BTC continues to trade at the much lower price target of $110,000, while the price of ETH continues to trade between the $4,300 and $4,400 price range, short of its latest ATH set a few days ago at the $4,900 price range. Amidst rising bearish sentiments in what is expected to be a red month of September, one analyst believes the price of Bitcoin will fall as far as $90,000 to close a CME Gap

This analyst, Doctor Profit, believes that the Fed rate cut announcement led to a highly bearish market reaction this September. Known for his many accurate market predictions, this analyst’s latest declaration that the market is extremely bearish causes concern among many traders and crypto investors. While he remains bullish for the long-term, a short-term correction seems inescapable for the crypto market

As we can see from the post above, Doctor Profit declares the market to be extremely bearish and makes a comparison between 2024, when yields crashed by 16% in the weeks before the Fed’s first cut, when markets rushed into bonds, betting big on lower rates, and 2025, when yields are rising by over 5% into the next cut and investors are dumping bonds, demanding higher payback to lend money.

Rollercoaster Ber Months Ahead

He concludes that the resulting effect in 2024 was bullish, while that of 2025 will be bearish. He then states that this is a dangerous move and prompts readers to imagine their credit card company telling them they would receive lower rates, but the bank suddenly doubles the cost of their mortgage. That’s what’s happening, he says, that the Fed announces a short rate cut, but long-term borrowing gets more expensive

He believes this is a sign of the Fed losing control, resulting in governments, companies, and households paying more. Thus, he finishes his post by saying that smart traders are taking bearish positions now to ensure that they survive September without facing any significant losses

As we can see from the post above, one reputed crypto analyst reveals what he expects to unfold for the rest of the year. He says that in September the market will bottom, recover in October, allowing BTC to pump, then see new ATHs for BTC and ETH in November, and finally see altcoins explode with 10x - 50x pumps from the bottom. The analyst encourages traders to survive now and not get shaken out before the long-awaited parabolic pump.