Crypto Analyst Warns of Potential Bull Trap

A widely followed cryptocurrency analyst believes Bitcoin (BTC), Ethereum (ETH), and altcoins bulls are being set up for a massive trap.

The analyst and trader, pseudonymously known as Capo, informs his 938,800 followers on the social media platform X that the crypto market appears ready to rise temporarily, potentially forming a bull trap.

A bull trap is a misleading signal that implies the bearish trend has ended, but then prices suddenly reverse, resulting in a deeper decline.

According to Capo, Bitcoin, Ethereum, and altcoins could increase by 10% to 50% from current levels before a sharp price reversal occurs.

> “Bitcoin to $100,000 with a quick pump, Ethereum to $3,000, altcoins 10% to 50% up – bull trap soon.”

Bitcoin is trading at $89,290 at the time of writing, while Ethereum is valued at $2,205. Capo believes the bull trap could lead to a correction of double-digit percentage points, possibly caused by a black swan event.

> “30% to 60% drop (the second shakeout, possible black swan event) after the bull trap.”

A black swan refers to an unexpected event that causes significant market turmoil. The last notable black swan event that impacted markets was the Covid-19 pandemic.


Capo’s chart indicates that Bitcoin will first reach $100,000, followed by a sharp drop to around $69,000. After this significant decline, he predicts Bitcoin soaring to a new all-time high of approximately $116,000.

Additionally, he anticipates an “epic” altcoin season to follow the capitulation event.