Bitcoin $98K Rally a Trap? Analyst Warns of $60K Crash

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Dimitar Todorov
23 April, 2025, 17:41
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Bitcoin Could Crash to $60K After Short-Term Rally, Warns Analyst Crypto Capo

Analyst urges caution as BTC nears $98K; mid-term investors eye ENA and TON

A bold new prediction from popular market analyst Crypto Capo has cast a shadow over Bitcoin’s recent gains. According to a statement he shared via Telegram, Bitcoin (BTC)—currently priced at $93,725—could rally toward $98,000 in the near term before experiencing a sharp correction of over 34%, potentially plummeting to $60,000.

Bitcoin on Fragile Ground Despite Recent Surge

Bitcoin’s price has climbed 5.1% over the past 24 hours, triggering optimism across the crypto market. However, Capo referred to the rally as “the calm before the storm,” warning that the ongoing uptrend might be misleading.

“Shorting here doesn’t make sense,” Capo cautioned, adding that long positions are currently more reasonable as Bitcoin pushes through the $94,000-$95,000 range.

He emphasized that the market could reach a regional top near $98,000 before a major correction begins. His analysis, grounded in technical indicators and trader sentiment, highlights the recurring nature of sharp pullbacks following euphoria in the market.

Market analysts agree that Bitcoin’s volatility makes it prone to sudden price reversals. Past cycles have seen dramatic shifts within short timeframes, and Capo's projection reflects a broader view of macro trends and behavioral patterns among traders.

Mid-Term Investment Potential in ENA and TON

Beyond Bitcoin, Capo also shared his insights on ENA and Toncoin (TON)—two altcoins gaining traction among mid-term investors.

ENA: Targeting the $0.50–$0.55 Range

ENA, a synthetic dollar protocol built on the Ethereum ($1,810) network, has surged 6% in the past 24 hours, and Capo believes it has the potential to reach between $0.50 and $0.55.

He described ENA’s current trajectory as developing within a widening technical range, suggesting both potential gains and inherent risks.

“I’ll maintain my ENA position through August–September,” Capo said, hinting that he may re-enter or expand his position on any significant correction.

Bitcoin Decouples From Altcoins: Analyst Warns of Looming BTC Price Crash

This mid-term outlook reflects Capo’s strategy of identifying alternatives to high-risk, short-term trades, providing investors with more stable investment windows amid broader market volatility.

TON: Cautious Optimism Amid Clean Technical Setup

As for Toncoin (TON), which has increased by 2.9% daily, Capo is watching closely. He believes that a break above the $4.58 resistance could trigger a corrective dip to around $2.10.

Despite this potentially bearish scenario, the analyst pointed out that TON exhibits a “very clean setup”, aligning well with the current macro market structure.

Technical indicators on TON appear to support this two-sided outlook, where bullish momentum could quickly reverse if key resistance levels are tested unsuccessfully.

Caution Remains Key in Volatile Crypto Markets

Capo's cautious tone has prompted traders to reconsider their strategies. While the Bitcoin uptrend continues to attract buyers, the possibility of a 34%+ correction cannot be ignored. His forecast of a potential drop to $60,000 after a move to $98,000 serves as a sobering reminder of how quickly market sentiment can shift.

The same applies to altcoin opportunities, where strong setups in ENA and TON offer room for growth, but with measured risk and careful entry strategies.

Conclusion: Stay Alert as Bitcoin Approaches Crucial Levels

As Bitcoin marches toward what many analysts believe could be a regional top, Crypto Capo’s warning has added a layer of caution. His outlook suggests that traders should avoid excessive optimism and prepare for high-impact volatility in the near future.

Meanwhile, altcoins like ENA and TON may offer mid-term opportunities, but navigating these assets requires a balanced risk-reward approach. With the broader market on edge, staying informed and adaptable remains essential for success.