Analyst il Capo of Crypto, known for his pessimistic views on the cryptocurrency market, made new assessments regarding the current structure of Bitcoin.
While the analyst said there was a small possibility of a recovery in the short term, he argued that the overall trend was still clearly downward.
Il Capo stated that some support levels are working in lower timeframes, saying, “We may see a slight short-term rebound, but the overall outlook is bearish. Many are saying this is the start of the altcoin season. In my opinion, this is just a ‘dead cat bounce’ and a few exit pumps.”
The analyst argued that the real uptrend would only come after a significant market capitulation. Il Capo, who called the sharp decline that occurred on October 10th the “pre-black swan period,” stated that if a larger decline were to occur, he would aggressively turn to the bull market:
“There will come a time to be bullish. Probably after a bigger capitulation than on October 10th. Then I’ll be one of the most optimistic. But now is not that time.”
Market data also supports the analyst’s cautious stance. Bitcoin is trading at $103,300, down 2.44% in the last 24 hours. With a market capitalization of $2.06 trillion, BTC is approximately 18.26% off its all-time high of $126,198, set on October 6, 2025.
*This is not investment advice.
