Bitcoin's Recovery May Be a Setup for a Deeper Drop
A pseudonymous crypto analyst named NoName warns that despite Bitcoin's recent recovery, it could still drop to $39,000 before reaching its bear market low.
NoName notes that there is an unfilled fair value gap (FVG) above the current price, which may be completed before a final drop into the $39,000 to $49,000 range.
The analyst expects Bitcoin to first fill the gap and then immediately fall, or within one to three days, into a multi-week search for a bottom. Only after those conditions are met will NoName consider turning bullish.
NoName made similar comments earlier, noting that they sold BTC near its 2025 all-time high around $117,000 before the bear market and maintain that the bear market still has 'weeks left' before reaching a zone they'd prefer to buy Bitcoin in.