A crypto analyst is sounding the alarm on Bitcoin (BTC), forecasting a price crash that could drag it down to levels not seen since previous bear markets. Citing recurring historical chart patterns, such as the ominous double-top formation that has preceded past market collapse, the analyst warns that Bitcoin’s current price action is on the brink of repeating history. He also raised concerns about possible market manipulation contributing to recent price volatility, fueling fears of an impending downturn.Â
Historic Double Top Signals Bitcoin Crash
Bitcoin’s explosive rise past the $100,000 mark once again reignited market sentiment, triggering various bullish predictions of a potential rise to its final cycle top. However, while analysts see its recent price action as a bullish move to new heights, others are projecting an impending crash to fresh lows.
Notably, Jacob King, a crypto analyst and the Chief Executive Officer (CEO) of WhaleWire, has forecasted an upcoming crash in the Bitcoin price. The analyst shared a comparative chart, pointing to a recurring chart pattern that has preceded every major market crash in Bitcoin’s price history. In all the past market cycles, BTC has formed a distinct double-top pattern, which marked the end of a bull cycle and the beginning of a bear market.Â
For more clarity, King’s chart shows four panels comparing Bitcoin’s price action during the past 4-year cycles. The top left of the chart shows a double top pattern formed in 2017, followed by a steep crash after the cryptocurrency hit a second price peak.Â
On the top right chart, a smaller double top pattern occurred in 2019, triggering a price correction, though less severe than in 2017. A more pronounced doubt top pattern was also formed in 2021, leading to the historic mark collapse and drawn-out bear market that stretched from 2022 – 2023.Â
Now the current 2025 Bitcoin structure eerily mirrors the same pattern from previous cycles, with King warning that history is on the verge of repeating itself. The analyst’s chart shows that BTC is finally forming a market top, potentially signaling the onset of a bear market.Â
He further declared that Bitcoin’s price is already dangerously overvalued. He urges investors to exit the market, highlighting that every green candle is a better opportunity to sell.Â
Analyst Raises Flag On Possible Market ManipulationÂ
Beyond technical patterns and possible price crashes, King has raised red flags about what could be fueling Bitcoin’s latest surge and volatility. The analyst argues that the recent rally above $100,000 isn’t driven by real demand but rather by Tether (USDT).Â
According to the controversial view, the rapid creation of USDT is creating artificial buying pressure, printing exit liquidity for large holders who are now offloading their positions at inflated prices. King claims that the stablecoin’s issuance is being used by insiders to manipulate the price of Bitcoin, creating demand that doesn’t originate from actual fiat inflows.
Featured image from Pixabay, chart from Tradingview.com
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