Analysts warn Bitcoin’s bear market may not be over yet, with new targets pointing far below current levels.
Bitcoin traders are bracing for more turbulence after a rough stretch that has wiped out a third of the asset’s value since May. Analysts remain split on where the bottom actually sits.
Some traders point to $57,000 as the low. Others argue the market still has further to fall. The debate comes as Bitcoin trades near $64,382, up slightly over the past week.
Bitcoin Price Prediction Points to Deeper Crash
A trader known online as King0ftheCharts argues the current bounce is not the bottom. He believes Bitcoin will fall well below the $50,000 level many traders expect.
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The Bitcoin Bottom will be Much Lower Than You ThinkURGENT UPDATE! BTC is About to get CRASH Wave 3
Many Moonboys believe Bitcoin just bottomed at $57k, just as they did at $80k & $60k . A few other Moonboys believe BTC will bottom at the low $50k area. My second favorite… pic.twitter.com/eNrandZz8e
— King of the Charts – The Michael Burry of Bitcoin (@King0ftheCharts) July 25, 2026
His reasoning draws on the 2022 bear market, when the first leg down dropped 52 percent before a second leg fell 68 percent. Applying that same pattern to the current cycle, he estimates a possible bottom near $25,000 to $26,000.
That level would mark an 80 percent decline from the October 6, 2025 peak. It also matches the upper end of a long-term target he set shortly after calling that top.
He says Bitcoin has dropped only 30 percent so far from its May 6 high. The trader claims his signals still point in a bearish direction, with no clear sign of a bottom forming yet.
He also referenced his past calls, including predicting the timing of the October top and an early estimate that Bitcoin would fall to the $60,000 to $63,000 range. That forecast came at a time when many expected prices near $200,000 to $250,000 by December 2025.
He suggested history could repeat, noting Bitcoin has often dropped heading into past midterm election cycles.
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BTC Whales Remain Cautious on Weekend Bounce
Analyst Justin Bennett offered a more measured view of the recent rebound. He cautioned traders against trusting the weekend bounce without more confirmation.
According to Bennett, whale wallets are not yet positioned for a strong bullish move. He said that could shift, but current data shows limited conviction behind the rally.
Bennett pointed to $64,700 to $65,000 as a key zone to watch.
A push into that range would help clear a pricing gap left by a earlier single print on the chart. It would also give open interest more room to cool down.
He called this area the real test for the market’s next direction.
Don’t trust this weekend bounce just yet.$BTC whales still aren’t positioned for anything seriously bullish. That can change, but right now there’s no real conviction.
I’d still like to see #Bitcoin push into $64,700-$65,000 to mitigate that single print (inefficiency) and let… pic.twitter.com/JgldFBFxoX
— Justin Bennett (@JustinBennettFX) July 26, 2026
Key BTC Levels to Watch This Week
Bennett laid out two scenarios depending on how price reacts near resistance.
A rejection from the $64,700 to $65,000 zone, followed by a break below $64,000, could send Bitcoin toward $61,000 next. He named that level as his base case for now, barring new data. A reclaim of $65,000, on the other hand, could open the door toward $67,000.
He added that his outlook could shift depending on how price behaves early in the coming week.
As of data from CoinGecko at reporting, Bitcoin trades at $64,382.57. Trading volume over the past 24 hours reached $12.07 billion, alongside a 0.81 percent daily gain.
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