Countdown to Crypto Chaos: Expert Warns of Impending Crash After Bitcoin Peak

Bitcoin's recent correction has caused general nervousness in the crypto market, sending many assets lower. On Tuesday, BTC fell below $110,000, down 12% from its all-time high. Experts are warning of a possible worsening of the situation by October.

Analyst OxPepesso explained on X (former Twitter) the decision to close all crypto positions by October, citing historical trends. He believes that many traders are mistakenly assuming that the altcoin season will last 6-8 months, while his analysis points to the beginning of this period in late September – October.

OxPepesso notes the decline in Bitcoin dominance amid the growth of memecoins and activity in the Ethereum ecosystem, which signals a change in market dynamics. Technical indicators coincide with macro trends, indicating an approach to the “overheating phase”. After reaching the peak, an “uncontrolled collapse” is possible with significant losses for altcoins.

The analyst uses several assessment tools:

• Oscillators show current values of 1-2, which indicates no overheating, but still leaves a risk of correction

• MVRV (Market to Realized Value Ratio) Bands Approach Upper Limits, Signaling Increasing Risks

• The Pi Cycle Top indicator shows a rapid convergence of the 111-day and 350-day moving averages, which could mean a market top is approaching

• Onchain Originals Models Reflect Investor Behavior and Identify Key Support Levels

OxPepesso believes that the current cycle is in its final phase. Analyst Doctor Profit also strengthened the bearish sentiment, abandoning the previous forecast of a new historical maximum after overcoming the $90,000-95,000 mark and allowing for the possibility of a price decline.

Source: cryptonews.net