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<p>Amidst the euphoria over Bitcoin’s rally back above $45k, contrarian analyst <a href="https://twitter.com/WhaleWire/status/1734309480618209326" target="_blank" rel="noopener noreferrer nofollow">WhaleWire </a>cautions that the top crypto remains stuck in a broader bear trend that has further to run.</p>
<p>WhaleWire argues the last few months’ rebound represents a “manipulated rally designed at luring retail suckers for exit liquidity.”</p>
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<p>With overwhelming bullish sentiment expecting new all-time highs ahead, the reality may be quite the opposite, according to the analyst.</p>
<p>On the way up, almost every analyst cited the network’s strong on-chain fundamentals, like growing hashrate, as justification for calling the bottom.</p>
<p>Contrary to the prevailing sentiment that Bitcoin is poised to reach new all-time highs, WhaleWire suggests that the short-term targets for Bitcoin involve a potential dip below $40,000 and even further to $30,000. Looking into the medium term, the prediction extends to levels below $20,000 and $10,000.</p>
<p>This contrarian viewpoint challenges the overwhelmingly bullish narrative that has dominated the crypto community, cautioning against unwarranted optimism fueled by sensationalist predictions from various sources.</p>
<p>Read also:</p>
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 <li><a href="https://captainaltcoin.com/battle-for-attention-new-cryptocurrencys-presale-versus-dogecoins-anticipated-surge/" target="_blank" rel="noopener noreferrer nofollow">Battle for Attention: New Cryptocurrency’s Presale Versus Dogecoin’s Anticipated Surge</a></li>
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<p>It may not be a popular opinion, but WhaleWire’s warnings about excessive optimism seem to warrant consideration. Betting the entire farm on a straight-line recovery here could leave bulls burned once again if bearish technical and macro forces reassert control.</p>
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<p>The post <a href="https://captainaltcoin.com/bitcoin-is-still-in-a-bear-market-analyst-predicts-btc-to-plunge-below-this-price-level/" rel="noopener noreferrer nofollow">“Bitcoin is Still In a Bear Market,” Analyst Predicts BTC to Plunge Below This Price Level</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

“Bitcoin is Still In a Bear Market,” Analyst Predicts BTC to Plunge Below This Price Level

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