Analyst Drops Bearish Bombshell: Bitcoin at $93,500, Ethereum at $2,100, XRP at $1.6

For the last 24 hours, Bitcoin has remained around the $105,000 mark, a level it has maintained for most of the past week. Meanwhile, Ethereum is making an effort to stay above $2,500 and XRP has maintained its position above $2.10 over the last 24 hours.

While some analysts anticipate a return to bullish momentum following an upward breakout from the current range, others have adopted a more cautious or even pessimistic view. Recently, crypto commentator Warren MUPPET provided one such pessimistic outlook, predicting a significant downward correction for Bitcoin and other major cryptocurrencies.

Analyst Foresees Crash Scenario for Major Cryptos

The wider crypto market seems to be trapped in a consolidation range, as the Fear & Greed Index currently registers 52—a neutral sentiment that could easily shift in either direction. Crypto analyst Warren MUPPET noted on the social media platform X that this swing will be downward.

In particular, the crypto commentator shared a direct list of anticipated price points that caused a stir among certain crypto traders. Without charts or technical context, the post had merely emphasized the price targets for Bitcoin, Ethereum, XRP, Fartcoin, and Hype. Even without an explanation based on technical or fundamental analysis, the message was clear: a sharp correction could be imminent.

The analyst predicts that Bitcoin will fall to $93,500 from its current price levels, Ethereum will drop to $2,100, Fartcoin will decrease to $0.68, XRP will decline to $1.6, and Hype will go down to $28. In a comment on the original post, the crypto commentator also foresaw the possibility of Solana’s value dropping to $85.

These numbers might seem extreme to some, but they are not far-fetched. Bitcoin, Ethereum, and XRP all crahsed to these price levels just two months ago in April. This gives some credibility to the warning and if sentiment turns negative, a drop to these prices may not be out of the picture.

Prolonged Consolidation May Result in Price Crash

Data from prior price action indicates that bearish phases frequently emerge quickly after extended consolidation in elevated areas. Should that happen once more, the price of Bitcoin falling under $100,000 could rapidly develop into a broader market price collapse. Moreover, as Ethereum and XRP also solidify around their respective resistance levels, a synchronized drop below $100,000 following Bitcoin cannot be dismissed.

Hence, the bullish or bearish outlook hinges on whether Bitcoin can maintain a position above $100,000. Should sentiment decline in the next few days, the analyst’s forecasts might begin to appear more reasonable.

Currently, Bitcoin is priced at $105,096, Ethereum at $2,540, XRP at $2.16, and Hype at $42

 

 

 

 

 

 

 

 

Disclaimer and Risk Warning
coinweck does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party.  coinweck should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their research before taking any actions related to the company.