Crypto Capo’s Bombshell: Bitcoin Plunge Below $100K Imminent—Altcoins Face ’Doom’
The so-called 'Capo of Crypto' just dropped a grenade in the market—predicting Bitcoin nosediving below $100,000 and altcoins facing a bloodbath. Traders are scrambling.
Why the panic? When a market oracle speaks, hedge funds listen. Even if they’ll later blame 'unforeseen macro conditions.'
Altcoins on life support? If BTC craters, the alts will hemorrhage faster than a DeFi protocol with unaudited code. History doesn’t repeat, but it rhymes—loudly.
Silver lining? Crypto winters breed innovation. And let’s be honest—the space could use fewer meme coins and more actual utility. Just don’t tell the VC bros.
Bitcoin Price Is Headed Below $100,000
In the post on the social media platform X (formerly Twitter), Capo of Crypto shares a rather bearish thesis that suggests that the current strength in Bitcoin won’t last. He points out that the bitcoin price hasn’t bottomed yet and that the capitulation event is yet to happen.
A capitulation event is a time in the market when prices are falling, triggering panic among investors. This panic leads to further selling as investors become scared that prices will keep crashing, and this leads to deeper losses in the market. An example of a capitulation event is the FTX market crash, when the Bitcoin price fell by more than 60% in a matter of months.
The crypto analyst predicts that the bitcoin price will actually fall further, first below $100,000. Once this psychological level is broken, he sees the price heading for the $92,000 to $93,000 territory. However, he doesn’t expect the crash to end there as capitulation events often lead to deeper losses. He explains that if Bitcoin does fall below the $92,000-$93,000 support, then the market should expect to see prices as low as $60,000-$70,000.
Altcoins To Get Decimated
With the Bitcoin price expected to crash so hard, the effect on the altcoin market will be even more profound. Over the last few months, 10% dips in the Bitcoin price have translated to around 20-30% dips in altcoin prices. Therefore, a nearly 50% crash in the Bitcoin price WOULD be disastrous for altcoins.
Capo of crypto actually expects altcoins to crash harder, predicting that they will fall another 50-80% if his idea of the market does play out. This could put the altcoin market on a path to new lows not seen in the last five years, and could be the worst bear market in recent history.
This is not the first time that Capo has warned the community of an impending crash. Back in May, when the Bitcoin price was hitting new all-time highs, the analyst had warned that the market could reverse its gains. On May 15, he posted a picture of a Black Swan, suggesting that prices could crash. Since then, most altcoins have reversed their gains, with only Bitcoin managing to maintain most of its gains from that time period.
