Bluntz analyst predicts bitcoin will fall to $ 60,000 before historic growth

A crypto analyst known for his Bitcoin predictions has published a new prediction. Bluntz believes that BTC should make one last corrective move before exploding to new record highs.

The expert told this to his 261,200 followers on the social platform X. According to Bluntz, bitcoin is forming a bullish pennant pattern on the three-day chart. According to the analyst, BTC $61,580.00 Bitcoin 0.97% Market capitalization $1.21 trillion VOL. 24 hours $1.84 billion may drop to $ 60,000 to pave the way for a rally above $ 80,000.

«I am currently leaning towards BTC consolidation on a long-term basis. To me, this makes the most sense, but what worries me more is the altcoins. A pullback to $ 62,500, which would be only 12% for BTC, could be devastating for some altcoins,» the analyst explained. The trader expects bitcoin to rise to $ 87,500 by the end of this year.

As a reminder, a well-known industry figure, entrepreneur, and bitcoin supporter, Samson Mou, predicted bitcoin’s explosive growth, predicting that the cryptocurrency could someday reach $ 10 million. This prediction came during a period of calm: since mid-May, the price of BTC has stabilized at $ 70,000 and has been trading in a sideways trend. The analyst noted that the data confirms the existence of an underlying trade where the collateral is BTC rather than a bitcoin ETF, and emphasized that buying activity is still taking place through CME futures, indicating latent demand.