According to a crypto analyst, the price of Bitcoin remains firmly in a bearish trend and could be preparing for another big drop to new lows. Using a wave structure, the expert charted BTC’s price action during this bearish phase, outlining how he sees the current market developing and where the next drop could lead. Contrary to predictions of other analyststhe analyst believes that BTC has not yet reached the bottom of the cycle and may experience a final rally first before falling below $40,000.
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The price of bitcoin could return to $80,000 before the final drop
Crypto Bullet market analyst has presented bearish forecast for BTC on X, suggesting the leading cryptocurrency may still have more downside ahead the current bear market is ending. In his analysis, he described BTC’s market structure as a “double zigzag (WXY)” formation, using it to track the cryptocurrency’s price movements from its peak in October 2025 and project where the next big drop could happen.
One of the reasons Crypto Bullet is looking at a BTC bear market through this WXY structure is because of how the cryptocurrency has been trading in recent months. He noted that Bitcoin spent far more time consolidating between $62,000 and $78,000 than in the $84,000 to $97,000 range, where it traded from November 2025 to January 2026. To him, that extended sideways movement reflects a broader bearish structure that still exists.
Based on that setup, Crypto Bullet believes so BTC’s recent surge above $78,000 doesn’t mean its bear market is over, but could instead be part of a larger corrective move. He expects the cryptocurrency to make one final jump towards $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 linked this perspective to its WXY wave structure. According to him, Bitcoin ended wave W after it peaked above $126,000 in October 2025. down to $60,000 in February 2026. He noted that wave X also started after BTC reached $60,000 and predicts that it could end when the cryptocurrency rises above $80,000.
If that scenario plays out, Crypto Bullet expects wave Y to be the last low, where he believes BTC may eventually find a bottom. In terms of timing, the analyst believes that BTC still has five months before its bear market ends, which closely aligns with the time frames of past bear cycles.
The analyst marks BTC’s lowest target at $40,000
Crypto Bullet’s bearish outlook for Bitcoin is centered on Wave Y, which he believes could bring the heaviest downside of this cycle. According to him, once Bitcoin completes its surge above $80,000 in Wave X, the market could turn sharply, triggering rapid drop in prices towards the final bottom.
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He marked it BTC’s potential low target at $40,000expecting that move to play out between September and October 2026. From the $80,000 level, that would represent a whopping 50% drop, potentially destroying bullish traders who interpreted the $80,000 jump as the start of a new uptrend. Crypto analyst Tony Severino supports this point of view he said he believes this could be the most likely scenario for BTC.
Featured image from Unsplash, chart from TradingView
