Bitcoin Crash: Analyst Predicts 45% Drop to $42,000 in June – Are You Prepared?

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The <a href="https://jpygbp.com/btc-usd/">Bitcoin</a> Meltdown: What’s Behind The Drop To $76,000, And What’s Next

Bitcoin’s price has fallen significantly in the last week, dropping almost 7%. This decline erases the gains it made after positive discussions about the CLARITY Act in the Senate Banking Committee. While those discussions briefly pushed the price above $82,000, Bitcoin is now trading around $76,700.

The Bitcoin Pullback

As a crypto investor, I’ve been keeping a close eye on things, and the latest data from Glassnode isn’t looking great. They’re showing a significant increase in Bitcoin selling pressure – basically, a lot more people are rushing to sell. Their Spot CVD metric has dropped dramatically, falling over 848%! This suggests the short-term market health is really starting to weaken.

Trading volume has increased by around 4.2%, meaning more cryptocurrency is being bought and sold. Glassnode believes this doesn’t automatically signal a price increase, but instead shows traders are reacting quickly to price swings, likely adjusting their positions or protecting against risk.

Open interest in Bitcoin futures decreased by 2.9%, often indicating less willingness to take on risk when the market is unstable. Despite this, Glassnode observed a significant 136.6% increase in long-side funding payments, suggesting renewed interest in buying Bitcoin.

However, that optimistic sign isn’t likely to last. The firm notes a significant 278.7% drop in Perpetual CVD, suggesting continued strong selling in the perpetual market. This selling pressure could quickly impact overall market confidence.

Traditional financial interest in Bitcoin is waning. Glassnode data shows a 6.1% decrease in the value of US Bitcoin ETFs, combined with a significant drop in the amount of money flowing into these ETFs. This suggests that institutional investors are becoming less confident in Bitcoin.

Bear Cycle Targets

In my research, I’ve been tracking Bitcoin’s on-chain data, and it’s telling an interesting story. While we’re seeing some negative sentiment, it’s more than just that. Long-term holders are actually increasing their position, but indicators like NUPL and the Realized Profit-to-Loss Ratio have dropped significantly. Historically, these changes suggest that initial excitement is fading and traders are becoming more cautious as they react to the recent price decline. It’s a shift from optimistic buying to more defensive strategies as people reassess the risks.

According to Glassnode’s analysis of recent market data, Bitcoin’s strength is starting to decline. They’ve observed weakening in several key areas, including buying activity, overall market enthusiasm, and speculative investments.

Despite some recent gains, analyst Kabuki believes Bitcoin remains in a long-term downtrend, often called a “Bear Cycle.” They shared this view on X (formerly Twitter), suggesting the recovery seen earlier this year was only temporary.

According to Kabuki’s analysis, the price of Bitcoin could soon enter another downturn. He predicts it might fall to $71,000 in the next few days, and potentially drop even further to $42,000 by June. This could mean a 45% decrease from its current price.

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2026-05-19 11:11