Veteran crypto trader Capo of Crypto has just doubled down on his warning that Bitcoin could soon see a huge drop to as low as $70,000. Despite Bitcoin staying above $100K for now, Capo says big hidden moves and fresh global risks could break this key level and spark a massive sell-off.
Here’s why he’s not backing down from his bearish call and what could trigger the next big shake-up.
While Bitcoin has managed to hover around $108,000, most altcoins have already seen heavy losses, falling 30% to 50% from their May peaks. According to Capo, this drop was no surprise, he called it perfectly and has continued to add to his short trades, especially focusing on altcoins he believes have more downside ahead.
But here’s where it gets more interesting: Bitcoin is still holding above $100,000, mainly due to institutional investors accumulating BTC for their reserves, which creates steady buying pressure.
However, he finds it odd that with all this buying, Bitcoin’s price hasn’t soared higher. “Something feels off,” he says, suggesting that bigger whales may be quietly selling at these levels.
Adding to the uncertainty, several old Bitcoin wallets from the Satoshi era have suddenly become active, moving over 80,000 BTC, worth nearly $8.7 billion, after 14 years.
It’s unclear if these coins will be sold, but Capo sees this as a sign that large holders might be distributing, not accumulating, at current prices.
What makes Capo even more bearish is his view that if Bitcoin breaks below the $100K level clearly, it could soon drop to the next support area around $92K–$93K. Making this even worse, a deeper slip could drag BTC to $60K–$70K, and altcoins might collapse another 50%–80% in a panic sell-off.
One trigger he points to is the China–Taiwan conflict, which he says is quietly reaching a dangerous point. Any disruption in Taiwan’s vital chip supply could shake global markets and push investors to panic, and crypto won’t be safe.
As of now, bitcoin is shying away from its all-time high, currently trading around $108,912, reflecting a rise of 1% seen in the last 24 hours, with a market cap hitting $2.16 trillion.
As per Coinpedia’s BTC price prediction, the Bitcoin price could peak at $168k this year if the bullish sentiment sustains.
With increased adoption, the price of Bitcoin could reach a height of $901,383.47 in 2030.
As per our latest BTC price analysis, Bitcoin could reach a maximum price of $13,532,059.98
By 2050, a single BTC price could go as high as $377,949,106.84
CoinPedia has been delivering accurate and timely cryptocurrency and blockchain updates since 2017. All content is created by our expert panel of analysts and journalists, following strict Editorial Guidelines based on E-E-A-T (Experience, Expertise, Authoritativeness, Trustworthiness). Every article is fact-checked against reputable sources to ensure accuracy, transparency, and reliability. Our review policy guarantees unbiased evaluations when recommending exchanges, platforms, or tools. We strive to provide timely updates about everything crypto & blockchain, right from startups to industry majors.
All opinions and insights shared represent the author's own views on current market conditions. Please do your own research before making investment decisions. Neither the writer nor the publication assumes responsibility for your financial choices.
Sponsored content and affiliate links may appear on our site. Advertisements are marked clearly, and our editorial content remains entirely independent from our ad partners.
As the privacy coins narrative is booming, how can Zcash stay silent? It's booming, and…
Europe’s competition regulator has fired a major warning shot at two of the world’s biggest…
Story Highlights The live price of the ICP crypto is . Internet Computer price could…
The crypto market is preparing for its next big move. Investors everywhere are asking the…
Story Highlights The live price of SHIB memecoin is SHIB token price could reach a…
The global race to accumulate Bitcoin is heating up, with nations competing to secure every…
