Will Bitcoin Drop to $97K? Experts Say Yes—And Honestly, Who Can Blame Them? 🤔

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Will Bitcoin Drop to $97K? Experts Say Yes—And Honestly, Who Can Blame Them? 🤔

Alright, folks, gather ’round! Our crypto crystal ball (a.k.a. Justin Bennett) is peering into the future and *spoiler alert*—it’s not looking great. With over 115,000 followers on X (formerly Twitter, because we all know they change things just to keep us on our toes), this analyst is waving a flag—no, not the one you wave at a parade—more like a bearish banner 🏴—warning us that Bitcoin might take a little nosedive.

Bear Flag Pattern Points to $97K–$98K Range

Justin’s saying, “Hey, look out! Bitcoin’s forming a bearish flag pattern—think of it as the bad haircut of technical patterns. Usually, it signals the crypto version of ‘bye-bye, lettuce’—a further slide after a sad attempt at a comeback.” He points out Bitcoin’s rejection at the April trendline and looking like it’s having trouble claiming the magic number of $106,600. Spoiler: If Bitcoin can’t hold above that, we’re headed down to the $97,000–$98,000 zone, which sounds less like a price and more like a really fancy sushi spot 🍣.

Stock Market Correlation Remains the Wildcard

Meanwhile, our trusty “source of truth” (the stock market, because what could go wrong?) remains the wild card. Bennett suggests that Bitcoin’s mood swings are heavily influenced by the US stock indices—basically, if stocks are mad, Bitcoin is probably hiding under the bed.

He warns that unless the stock market pulls a dramatic “I’m just taking a little breather,” we might not see that big Bitcoin crash everyone’s half-wishing for. Basically, macro vibes just might keep Bitcoin’s party going—or end it, depending on the day.

Whale Activity Indicates Growing Bearish Pressure

And in case you still needed a sign to panic, Bennett throws in the Whale vs. Retail Delta indicator from Hyblock Capital. Think of whales as the big, fancy investors—they’re the ones who decide whether the tide is coming in or going out.

Recently, these whales decided to start leaning toward shorting Bitcoin again, kind of like when your boss gives you more responsibilities but no extra pay. Historically, when whales get bearish, crypto markets tend to follow suit. So yeah, the big fish are adding fuel to the bear fire—happy days, or not.

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2025-06-06 02:57