Following Bitcoin’s (BTC) price bounce above $82,000 and a subsequent rejection, the cryptocurrency has been in a major decline, with a market analyst now calling for a fresh bottom. He described the latest rebound as another bull trap in BTC’s broader bearish structure. As a result, the analyst now predicts that the flagship cryptocurrency will likely experience a steady decline to fresh lower levels around the $40,000 before it can begin rising again.
Analyst Predicts Bitcoin Price Freefall Until June
Kabuki, a crypto market analyst who previously forecasted Bitcoin’s last price top and 2022 bear market bottom, is now sounding the alarm, warning that the leading cryptocurrency has not yet seen its lowest point this cycle. The analyst believes that prices are about to enter a freefall all the way down to $40,000 before this cycle is over. He marks this level as a final cycle bottom, expecting the drop to be steep and relentless.
In a recent X post, Kabuki said that Bitcoin’s current price structure perfectly mirrors a downward zigzag pattern known to signal a cycle bottom. He showed this pattern clearly on his accompanying chart, with Bitcoin forming a bull trap around the level labeled ‘y’ and the analyst projecting a steep decline toward the area marked as ‘z,’ around the $40,000 region.
According to the analyst, Bitcoin’s bull trap formation and recent relief rally are signs that history is repeating itself and the cryptocurrency is playing out as he anticipated. While he believes that the flagship cryptocurrency is set to dump to $40,000, he does not expect the crash to happen immediately.
Kabuki has outlined a projected bearish path from BTC’s current levels around $79,000. From this point, he expects the cryptocurrency to decline to $61,000, then drop again to $47,000, representing a more than 40% loss from present prices. Once this lower level is reached, the analyst believes that Bitcoin may stage a short-term recovery back up to $55,000. However, he sees this as a temporary bounce before a final price crash to $41,000 wipes out any gains made during the rebound.
For the projected timeline of this decline, Kabuki expects Bitcoin to first decline toward the $70,000 region within the next few days. From there, he sees a sharp price crash toward $40,000 playing out around June 2026.
Notably, Kabuki has pointed to his strong track record to back his bearish forecast. The analyst claims to have called the Bitcoin top above $126,000 in October 2025 and the $15,000 bottom in November 2022.
Bitcoin Bull Trap Signals Bear Crash
In a separate analysis, crypto expert Chiefy said on X that Bitcoin is currently stuck in the longest and final bull trap of its present bear market cycle. The analyst predicted that the real correction could begin as early as next week, with BTC possibly dumping to $51,000 over the next 12 days, starting May 17.
Chiefy backed his warning with a price chart highlighting past bull traps where Bitcoin staged a rally only to sharply reverse, wiping out traders who had entered the market believing the move was sustainable. With a similar formation now taking shape, the analyst believes the same outcome could happen soon.
Featured image from Getty Images, chart from Tradingview.com
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