Crypto analyst Xanrox is telling traders to stay away from Bitcoin right now. In a note published this week, the analyst warned that the recent Bitcoin rally was a bull trap and that the largest cryptocurrency could drop to around $60,000. Xanrox instead recommended a basket of altcoins, calling them safer bets for the coming weeks.
The warning comes as Bitcoin slipped below $80,000 after U.S. producer price index data showed a 6% year-over-year increase in April, a spike the analyst attributed to the ongoing U.S.-Iran war. At the time of writing, Bitcoin was trading near $79,600, down over the last 24 hours according to CoinMarketCap.
The bearish case for Bitcoin
Xanrox cited a bearish flag pattern on Bitcoin's daily log-scale chart and a huge selling wall sitting above the current price. The analyst acknowledged that Bitcoin could still push higher, possibly reaching $83,000 to $84,000. But he advised opening a short position there rather than going long. In his view, that move would be a trap — a pump designed to lure in buyers before the real drop.
Xanrox also noted that Bitcoin's dominance metric looks bearish, which he interprets as a strong signal that an altcoin season is about to begin. Lower dominance typically means capital is rotating out of Bitcoin and into smaller coins.
Altcoins to watch
The analyst listed eight altcoins he'd buy for trading alongside large banks and institutions: ADA, TRX, LINK, DOGE, BNB, XLM, XRP, and ETH. He called them 'bank coins' — assets that institutional money is likely to flow into. But Xanrox suggested that lower-cap altcoins offer even greater upside than those majors.
Several names on his list have already been moving. TON is up nearly 50% in the last month, with network fees dropping 600% and yields that remain attractive among layer-1 networks. SUI has gained over 26% in the same period, and ONDO is up 57%, driven by what Xanrox described as bullish fundamentals.
What happens next
Xanrox's advice is straightforward: don't chase the Bitcoin pump. If BTC does hit that $83,000–$84,000 zone, he recommends shorting it. For now, the analyst is focused on altcoins, especially those with clear institutional backing. Whether the broader market agrees will become clearer in the coming days as traders digest the inflation data and the geopolitical situation.
