Top Trader Issues Bitcoin Warning, Predicts BTC Collapse Amid Extended Weakness and Consolidation

Renowned trader warns about the future of Bitcoin, predicting its imminent collapse amidst prolonged weakness and consolidation. The trader, known as the Flow Horse, asserts that Bitcoin’s crucial support level at $60,000 will crumble before any hopeful trend reversal occurs. With signals indicating lingering weakness and dwindling demand, the analyst expects Bitcoin to trade below $60,000 once again. Though the Flow Horse suggests that both Bitcoin and Ethereum are setting a trap for bearish traders, he anticipates a short-lived rally for the two leading cryptocurrencies. At present, Bitcoin is priced at $64,338, while Ethereum stands at $3,500. However, the trader’s temporary bullish stance on Bitcoin and Ethereum extends to the broader altcoin market, as he believes that it is closer to a temporary bottom and subsequent bounce.