Bitcoin’s near-term outlook remains decidedly bearish, according to prominent crypto analyst Crypto Bullet, who suggests the world’s largest cryptocurrency could face another severe downturn before establishing a market bottom. Rather than viewing recent price strength as a sign of recovery, the analyst points to a “Double ZigZag” wave structure that indicates further declines may lie ahead.
The analysis relies on tracking Bitcoin’s price action from its October 2025 peak, mapping a complex corrective pattern that Crypto Bullet believes is still unfolding. A key observation supporting this thesis is the extended consolidation period between $62,000 and $78,000, which lasted significantly longer than earlier trading ranges. This prolonged sideways movement, in his view, reflects an underlying bearish market structure rather than healthy accumulation.
According to the technical framework, Bitcoin could experience one final rally toward $85,000 before reversing sharply lower. This anticipated rebound would complete what Crypto Bullet labels as “wave X” of his wave structure. However, this move higher should not be mistaken for a genuine bull market revival—instead, it represents the final corrective phase before the most severe leg down takes hold.
The ultimate target painted by this analysis is remarkably bearish: $40,000 represents a potential 50% decline from the anticipated peak near $80,000-$85,000. Such a crash would likely devastate momentum traders who interpret the rebound as the beginning of sustained upside. The analyst projects this capitulation could occur between September and October 2026, aligning with historical bear cycle timelines.
Notably, Crypto Bullet estimates approximately five months remain before Bitcoin’s bear market cycle concludes, suggesting extended weakness throughout the summer months. This perspective challenges more optimistic forecasters who anticipate a V-shaped recovery or sustained bull market from current levels.
The bearish forecast has garnered support from other analysts, including Tony Severino, who views this scenario as highly plausible. For Bitcoin investors and traders, this analysis underscores the importance of cautious positioning and realistic risk management amid continued market uncertainty.