According to a crypto analyst, the Bitcoin price remains firmly in a bear trend and could be preparing for another major crash to new lows. Using a wave structure, the expert mapped out BTC’s price action during this bearish phase, outlining how he sees the current market developing and where he believes the next downside move could lead. Contrary to other analysts’ predictions, the analyst believes that BTC has not yet reached its cycle bottom and may first see a final surge before plunging below $40,000. Related Reading: Stablecoins Go Institutional As Morgan Stanley Rolls Out New Portfolio Bitcoin Price Could Rebound To $80,000 Before A Final Crash Market analyst Crypto Bullet has presented a bearish BTC forecast on X, suggesting that the flagship cryptocurrency may still have more declines ahead before the current bear market ends. In his analysis, he described BTC’s market structure as a “Double ZigZag (WXY)” formation, using it to track the cryptocurrency’s price action from its October 2025 peak and project where the next major decline could unfold. One reason Crypto Bullet views BTC’s bear market through this WXY structure is because of how the cryptocurrency has traded in recent months. He noted that Bitcoin has spent far more time consolidating between $62,000 and $78,000 than it did in the $84,000 to $97,000 range, where it traded from November 2025 to January 2026. To him, that prolonged sideways movement reflects a broader bearish structure still playing out. Based on that setup, Crypto Bullet believes that BTC’s recent rebound above $78,000 does not mean its bear market has ended but could instead be part of a larger corrective move. He expects the cryptocurrency to make one final push higher toward $85,000, with this level as the next major resistance above his ABC target of $82,500, as highlighted on his chart. Crypto Bullet has tied this outlook to his WXY wave structure. According to him, Bitcoin completed wave W after peaking above $126,000 in October 2025 and plunging to $60,000 in February 2026. He noted that wave X also began after BTC reached $60,000 and projected it could end once the cryptocurrency rallies above $80,000. If that scenario plays out, Crypto Bullet expects wave Y as the final leg low, which is where he believes BTC could eventually find a bottom. In terms of timing, the analyst believes that BTC still has five months left before its bear market ends, which closely aligns with timelines from past bear cycles. Analyst Marks BTC Bottom Target At $40,000 Crypto Bullet’s bearish outlook for Bitcoin centers on wave Y, which he believes could bring the most severe downturn of this cycle. According to him, once Bitcoin completes its rebound above $80,000 in wave X, the market could reverse sharply, triggering a rapid price crash toward a final bottom. Related Reading: Bitcoin’s Big Players Are Accumulating — Is $80K Just The Start? He marked BTC’s potential bottom target at $40,000, expecting the move to play out between September and October 2026. From the $80,000 level, this would represent a whopping 50% decline, potentially wiping out bullish traders who had interpreted the surge to $80,000 as the start of a new bullish trend. Supporting this outlook, crypto analyst Tony Severino said he believes this could be the most likely scenario for BTC. Featured image from Unsplash, chart from TradingView
