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Home»Bitcoin»Trader Says Bitcoin Could Crash by Double-Digit Percentage Points After Confirming Downtrend – Here Are His Targets
Bitcoin

Trader Says Bitcoin Could Crash by Double-Digit Percentage Points After Confirming Downtrend – Here Are His Targets

June 1, 2025No Comments2 Mins Read
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Bitcoin Analyst Justin Bennett Warns of Further Downside Potential for BTC

Renowned analyst and trader Justin Bennett has issued a warning for Bitcoin (BTC) investors, suggesting that the leading cryptocurrency could experience further losses after breaking down from key support levels.

Bennett recently shared his insights with his 115,400 followers on X, stating that Bitcoin has experienced a “confirmed break” after dropping below a critical support level at approximately $106,000.

According to Bennett, Bitcoin could potentially decline by as much as 13% from its current price to around $91,790 if it fails to hold support levels at $100,730 and $97,762.

“These downside targets remain in play as long as $106,000 acts as new resistance on the daily timeframe,” Bennett emphasized.


Source: Justin Bennett/X

Furthermore, Bennett expressed concerns about the bearish potential for both Bitcoin and Ethereum (ETH) as the dominance of Tether (USDT) in the market increases.

“The rising USDT dominance indicates a bearish outlook for BTC and ETH. The recent confirmed breakout signals a shift in market sentiment. It’s essential to analyze the charts objectively and prepare for potential pullbacks,” Bennett explained.


Source: Justin Bennett/X

Shifting focus to Ethereum, Bennett noted that the second-largest cryptocurrency by market cap is displaying bearish tendencies following a break below an ascending trendline on the four-hour chart.

“The breach of this trendline suggests a potential downturn for ETH, with targets set at $2,460 and $2,360. Despite today’s false breakout above range highs, Ethereum remains tilted towards a bearish outlook,” Bennett stated.


Source: Justin Bennett/X

At the time of writing, Bitcoin is trading at $105,365, while Ethereum is priced at $2,605.

See also  Treasury Secretary Scott Bessent Says U.S. Will Buy More Bitcoin

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Bitcoin Confirming Crash DoubleDigit downtrend Percentage Points Targets Trader
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