A recent assessment from a prominent cryptocurrency analyst indicates that Bitcoin is firmly entrenched in a bear trend and may be on the brink of another substantial downturn, potentially reaching new lows. The analyst, known as Crypto Bullet, employed a wave structure analysis to delineate Bitcoin’s price movements throughout its current bearish phase, explicitly forecasting the future trajectory of the cryptocurrency and identifying where further declines might lead.
In stark contrast to the optimistic forecasts from some analysts, Crypto Bullet asserts that Bitcoin has yet to touch its cycle bottom. It is anticipated that Bitcoin could experience a final surge before plummeting below the $40,000 mark. According to Crypto Bullet’s findings shared on social media platform X, the flagship cryptocurrency may still have several declines ahead before concluding the current bear market.
Utilizing a “Double ZigZag (WXY)” formation, Crypto Bullet has mapped Bitcoin’s price movements since its peak in October 2025. He emphasized that since this peak, Bitcoin has spent a considerable amount of time consolidating between the $62,000 and $78,000 range—far more than it did between $84,000 and $97,000 from November 2025 to January 2026. This extended sideways movement is viewed as indicative of a larger bearish trend still unfolding.
As part of this analysis, Crypto Bullet posits that Bitcoin’s recent gains exceeding $78,000 do not signify the end of the bear market. Instead, he views this trend as a potential corrective phase leading to one final push higher, potentially reaching up to $85,000. This level is identified as a significant resistance point, which surpasses his earlier identified ABC target at $82,500.
Moreover, Crypto Bullet has aligned his predictions with the WXY wave structure concept. He indicates that Bitcoin completed wave W after its all-time high above $126,000 before the substantial drop to $60,000 in February 2026. Following this, wave X commenced at $60,000 and is projected to culminate once Bitcoin rallies past $80,000.
Should this scenario unfold as anticipated, Crypto Bullet predicts that wave Y will represent the most severe decline of the current cycle, suggesting that after the completion of a rebound to $80,000, Bitcoin’s market could experience a sharp reversal, triggering a significant price crash toward a final low.
The analyst has pinpointed a potential target for Bitcoin’s bottom at around $40,000, with expectations that this decline may occur between September and October 2026. Such a move would represent a staggering 50% drop from the $80,000 level, possibly leading to severe consequences for traders who had interpreted the rise as a precursor to a new bullish trend. This outlook has garnered support from other crypto analysts, including Tony Severino, who also believes this scenario could be the most likely course for Bitcoin moving forward.
