Bitcoin is currently trading south of the $80k support-turned-resistance level after a significant rejection above the key psychological level. The largest cryptocurrency by market capitalization is feeling uneasy right now, with some analysts stating that a major price squeeze is about to be triggered by this move, one that could dump it below $50k.
Popular crypto analyst Kabuki tweeted:
Kabuki painted a bleak picture of the cryptocurrency’s immediate outlook, suggesting it would first drop to $61k, then further to $47k, followed by a short recovery to $55k, and eventually form a bottom around $41k. The analyst in question has over 68k followers on X and has repeatedly claimed that he called the $126k peak during the 2024-2025 bull market, as well as the $15k bottom in November 2022.
Bears Reiterate Dump Below $50k Theory
The broader crypto market has shown early signs of recovery, buoyed by strong ETF inflows and institutional activity. However, a section of crypto analysts has long predicted that any move above the $80k resistance will be short-lived and a classic bull trap. They have consistently pushed the idea that we are in a deep bear market and that it is unlikely to improve any time soon.
Kabuki states that the potential dump to $41k is part of a well-documented crypto cycle that is playing out right now. He believes his proposed chart will prove true, encouraging analysts to bookmark his analysis.
 
Twitterati Respond
There was a wide range of replies from X users, some of whom agreed with Kabuki’s take, while others reminded him that he had been proven wrong over and over again, and he is just trying to force the crypto to lower levels for his own gains.
One user hit back:
Another quipped:
The Future
While Kabuki, like many crypto analysts on X, is pushing the idea of a major 40-50% price dump in Bitcoin’s fortunes, it is worth noting that there is no significant technical indication pointing to such a move. The bulls are exhausted, yes, and the move below $80k is currently taking its toll on the proceedings, but there are significant psychological resistances at $70k, $60k, and then at $50k that are likely to come into play if a major price dump occurs.
Currently, bulls might fancy their chances of a long-term price support level at $60k, but the situation may change if global macroeconomic conditions deteriorate further due to the ongoing conflict in the Middle East.
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