Bitcoin News
By Jean-Luc Maracon
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The $71,000 Trap and the Drop That Follows. Here's the scenario Aralez lays out. Bitcoin likely sees a short-term move toward the $71,000 zone.
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What Comes After the Bottom. Aralez isn't purely doom and gloom. He does see a scenario where things stabilize — eventually.
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Volatility Ahead, No Clear Floor Yet. The broader bear market conditions Aralez describes aren't just about price levels.
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Bitcoin clawed back above $59,000 last week. But don't get too comfortable.
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Crypto analyst Aralez put out a blunt call on June 6 — the recent dip below $60,000 isn't a buying opportunity. It's the opening act.
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The bounce most traders were hoping for? Aralez thinks it probably comes — but only to set up something worse.
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He's not vague about why. Bitcoin broke below an ascending channel that had held between April and May.
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The $71,000 level — which some traders might read as bullish confirmation — Aralez frames as a danger zone.
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Not exactly what the bulls wanted to hear.
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Aralez isn't purely doom and gloom. He does see a scenario where things stabilize — eventually. Once Bitcoin finds a genuine bottom, he expects an accumulation phase to follow.
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So the long-term picture isn't necessarily broken. But the short-term path runs through more pain first.
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More context: Bitcoins Realized Losses Still $35B Short of 2022 Peak, Raising Fresh Bear Market Fears
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He's careful to add that the bottom isn't in yet. That's probably the most important part of his view.
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Weak demand and cautious sentiment are still the dominant forces here. It's not the kind of environment where dip-buying tends to work cleanly.
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The broader bear market conditions Aralez describes aren't just about price levels. They're about the character of the market — hesitant, low-conviction, with sellers ready to…
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