Experienced Analyst has received the latest update from the Chief about Bitcoin and Altcoin prices! "Here's what I'm expecting"

One of the renowned analysts in the Crypto world, il Capo of Crypto, in his statements today showed that he still holds bearish thoughts after the recovery in Bitcoin prices.

The price of Bitcoin has recovered after falling to 100,000 dollars last week and is currently trading at 107,415 dollars at the time this article is being written.

In a message shared with his followers via the official X account, il Capo claimed that a real capitulation event has not occurred in the crypto market. According to the analyst, the Bitcoin price could initially drop below $100,000 and then, with its subsequent movement, could decline to the range of $92,000 to $93,000.

After that, the analyst stated that the Bitcoin price could drop to around 60,000 dollars to 70,000 dollars, which would potentially mean a bottom point.

In this scenario, according to the Capo, more severe declines may also be observed in altcoins. According to the analyst, in the event of such a decline in the BTC price, altcoin prices may also experience declines of between 50% and 80%.

The Head stated that he has been clearly on the short side since late May and has particularly added to short positions in altcoins.

*It is not investment advice.

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