Bitcoin (BTC) Price Could Get \"Hammered\" If the Stock Market Rolls Over, Justin Bennett Warns

Crypto analyst Justin Bennett has warned Bitcoin investors about what could cause the flagship crypto to decline further.

Crypto Fear & Greed Index Shows Extreme Fear, But Bitcoin Could Be Almost Ready For Its Next Leg Up

Crypto analyst Justin Bennett has shared his thoughts on what could cause Bitcoin to decline further, and his analysis suggests that the flagship crypto is at risk of falling sharply if the stock market corrects.

Bennett highlighted the "relative weakness" in a recent X (formerly Twitter) post, suggesting that the crypto market will get "hammered" if the stock market rolls over, considering the correlation between the two markets.

"Relative weakness here suggests that if the stock market rolls over, crypto will get hammered.

Doesn't feel great, especially considering that the S&P, Nasdaq, and other stocks have been rallying for weeks.

Stock market is literally the only thing keeping Bitcoin and crypto from falling off a cliff.

Chart doesn't look great. Anyone bullish on Bitcoin at this price level is bullish on resistance.

Unlikely to break out to the upside now, which would have been clear if this recent drop was a fakeout or deviation.

Highlighted Tether dominance earlier, and it's putting in a higher low.

Things can change, but it's not a good look for the crypto market as things stand."

Despite the bearish analysis, there is some optimism, as several analysts believe that Bitcoin's recent downtrend is temporary and that the bull run will continue soon. Crypto Fear & Greed Index, which measures the market sentiment towards cryptocurrencies, is currently indicating "Extreme Fear."

According to the index, such market conditions usually indicate that traders are overly bearish, which could lead to a trend reversal.

Moreover, crypto analyst Rekt Capital had earlier warned that such price declines would occur, adding that Bitcoin will retrace "deep enough to convince everyone that the bull market is over and then continue روند صعودي.”

Highlighting the upcoming breakout, crypto Don Alt recently suggested that it was almost time for Bitcoin's next leg up, adding that the 100+ days of range for Bitcoin are ending soon.

"100+ days of range for Bitcoin ending soon.

This breakout will be trend forming and last at the very least as long as Bitcoin has ranged.

suggesting that this is Bitcoin's final capitulation before it rallies to a cycle-top like it did in 2016 post-halving."

Concluding his analysis, Rekt Capital had earlier stated that Bitcoin's market top could come sometime in September or October 2025 if the flagship crypto follows previous halving cycles.

These predictions anticipate that Bitcoin will rise above $100,000 before reaching the peak of this bull run.

At the last check, Bitcoin was trading at around $63,800, down over 2% in the last 24 hours, according to data from CoinMarketCap.

News source：https://www.kdj.com/cryptocurrencies-news/articles/bitcoin-btc-price-hammered-stock-market-rolls-justin-bennett-warns.html

The above is the detailed content of Bitcoin (BTC) Price Could Get \"Hammered\" If the Stock Market Rolls Over, Justin Bennett Warns. For more information, please follow other related articles on the PHP Chinese website!