Bitcoin may experience a final significant decline before a sustained recovery, according to Joao Wedson, founder and CEO of Alphractal. Analysis of Bitcoin's 720-day Tactical Bull-Bear Sentiment Index (TBBI) suggests the cryptocurrency has entered an extreme bearish zone, historically preceding a final shakeout.
Wedson forecasts a potential drop of approximately $15,000, pushing BTC toward the $54,000 level. This projection aligns with other indicators, including Bitcoin's realized price and on-chain cost-basis support. While some analysts predict even lower prices, substantial purchases by MicroStrategy could mitigate further downside, potentially leading to a sharp reversal.
