Bitcoin's slide below $80,000 this week has analysts lining up with fresh warnings that the bottom isn't in yet. The largest cryptocurrency is trading around $79,000, down more than 2% in the last 24 hours, and several prominent voices are telling traders not to buy the dip. Gargoyle, Doctor Profit, and Colin all see further downside — and their reasoning spans technicals, history, and macroeconomics.
Gargoyle waits for a capitulation spike
Analyst Gargoyle is advising against buying Bitcoin until a high-volume capitulation spike confirms the bottom. That hasn't happened yet. His chart work suggests Bitcoin could drop to roughly $45,000 before finding a floor, with that move possibly playing out between now and early next year. The call is straightforward: without panic selling on heavy volume, the current price isn't a reliable entry.
Doctor Profit's historical cycle map
Doctor Profit, who has been tracking Bitcoin's cycle patterns, warned this week that the bear market may continue. Based on historical cycle data, he expects Bitcoin to bottom between September and October 2025. That timeline puts the trough more than a year away from today. His analysis leans on past halving cycles and the rhythm of boom-and-bust that has defined previous crypto winters.
Colin ties Bitcoin's fate to stocks — and inflation
Analyst Colin takes a macro angle. He argues the stock market pump is the only thing keeping Bitcoin afloat right now. The S&P 500 looks bullish in the short term, but the economic backdrop is deteriorating. Rising CPI and PPI — plus inflation pressures from the ongoing U.S.-Iran war — are pushing the market to price in a rate hike this year. That's bearish for Bitcoin. Colin's blunt assessment: if stocks take a significant hit, Bitcoin will crash with them.
The timing isn't great for bulls. The combination of a missing capitulation signal, historical cycle patterns, and worsening macro conditions leaves little room for optimism. The next concrete event to watch is any shift in Federal Reserve language — or a sudden spike in volume that finally shows sellers giving up. Until then, the analysts' advice is essentially the same: stay patient.
