'One final shake': Trader says Bitcoin and Ethereum could crash before peak season begins – here are his targets

A widely followed cryptocurrency trader and analyst is bearish on Bitcoin (BTC) and Ethereum (ETH) amid a market downturn.

The trader, known by the pseudonym Capo, tells his 866,300 followers on social media platform X that Bitcoin and Ethereum could fall by up to 21% and 23%, respectively, from current levels.

“There is a possibility of a final shakeout with BTC testing the $48,000-$50,000 range and ETH testing the $1,800-$2,000 range before the real altcoin season begins.”

Bitcoin is trading at $60,508 at the time of writing, down 6% over the last seven days. Ethereum is trading at $2,345 at the time of writing, down 11% over the last week.

The pseudonymous analyst also offers an update on his Telegram channel on the altcoins that are among the top ten crypto assets by market capitalization and are commonly referred to as OTHERS. Capo tells the 103,281 subscribers to his Telegram channel that OTHERS' total market cap could fall to between $132 billion and $164 billion if a key resistance is not exceeded.

“The Altcoins Index (OTHERS) never gave the second and most important bullish confirmation. Instead, it was strongly rejected by the resistance zone (dark zone ~$240 billion) and showed weakness. From here we could see a final decline into the blue “buy zone” ($132 billion to $164 billion).

In this case there is no need to worry. In fact, it could represent a great buying opportunity. We have to adapt to what the market offers us.”

OTHERS' market cap is $203.645 billion at the time of writing.

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