Alan Santana, a crypto analyst on TradingView, foresees a significant Bitcoin price drop to $35,720 due to muted buying volume and claims of whale manipulation. Despite recent bullish activities, the market remains bearish, with Bitcoin failing to hit new peaks.
Santana points out the current price action suggests a lack of bullish momentum, attributing this to minimal whale activities and low buying volume. The predicted crash represents a drastic fall of nearly 47%, potentially causing panic among investors.
Contrary to his prediction, Bitcoin is currently trading at $68,203, supported by positive sentiment. However, Santana stands by his forecast, receiving criticism from the crypto community for his views and analysis methods.
Santana argues that market manipulation by large holders, or whales, can lead to artificial price movements. He claims these whales could cause a bullish wave to trap retail investors, but warns of the potential backlash if genuine buyers remain absent.
The analyst notes that retail investors are now more cautious and less influenced by inflated Bitcoin predictions, displaying skepticism toward forecasts of the cryptocurrency reaching astronomical values.
