Bitcoin’s been hanging around $105,000 for a week, Ethereum’s trying to stay above $2,500, and XRP’s holding steady above $2.10. While some analysts are still bullish, others are sounding the alarm.
A Bearish Prediction
Crypto analyst Warren Muppet recently issued a pretty gloomy forecast, predicting a significant market correction. His prediction, shared on X (formerly Twitter), simply listed target prices for several major cryptocurrencies, without any charts or explanations.
The Price Targets
Here’s what Muppet predicted:
- Bitcoin: $93,500
- Ethereum: $2,100
- XRP: $1.60
- Fartcoin: $0.68
- Hype: $28
- Solana (mentioned in a comment): $85
These numbers might seem extreme, but Bitcoin, Ethereum, and XRP were all at those levels just two months ago in April.
Why This Could Happen
The crypto market seems stuck in a holding pattern right now. The Fear & Greed Index is at 52 (neutral), but Muppet thinks it’s about to swing bearish. He believes prolonged consolidation at these high price levels often precedes a sharp drop. If Bitcoin breaks below $100,000, it could trigger a wider market crash, especially since Ethereum and XRP are also consolidating near resistance levels.
The Bottom Line
Basically, everything hinges on whether Bitcoin can stay above $100,000. If investor sentiment turns sour, Muppet’s predictions might not seem so far-fetched after all. At the time of writing, Bitcoin is at $105,096, Ethereum at $2,540, XRP at $2.16, and Hype at $42.