Bitcoin analyst sees $25,000 target as whales stay cautious near $65,000 zone

Analysts split on next Bitcoin bottom

Some market participants identify $57,000 as a possible low point. Others argue that Bitcoin could have much further to fall if current conditions persist. The market’s mood has become especially tense following a series of price drops since May, with little clear consensus emerging on a definitive bottom.

A prominent trader known as King0ftheCharts argues that Bitcoin may be primed for another significant wave down, potentially dropping well below $50,000. He bases his outlook on historical price patterns, specifically referencing the two-legged drop seen during the 2022 bear market—when the initial decline reached 52% and was followed by a second leg down to a 68% loss.

Extrapolating from that scenario, King0ftheCharts suggests Bitcoin’s bottom in the current cycle could fall as low as $25,000 to $26,000, which would represent an approximately 80% drop from the October 2025 peak.

Bitcoin has dropped only 30% so far from its May high, but that’s no guarantee a bottom is forming. Signals remain bearish, and a steeper decline, potentially toward $25,000 to $26,000, remains on the table if historical trends repeat.

He notes that this target aligns with earlier projections he issued after successfully calling the October 2025 top, and he recounts that many traders were then expecting a surge toward $200,000 or beyond by year-end. King0ftheCharts also connects the possibility of lower prices to previous cycles, where Bitcoin faced weakness leading up to US midterm elections.

Mini dictionary: King0ftheCharts is a pseudonymous crypto trader known for sharing technical analysis and cycle-based predictions on social media platforms, especially X (formerly Twitter), with a focus on major turning points for Bitcoin and other digital assets.

BTC whale wallets show limited conviction

Analyst Justin Bennett takes a more cautious, data-driven approach. He urges market participants not to put too much faith in the recent price bounce, noting there is little evidence that large investors, or whales, have positioned for a strong upswing yet.

Don’t trust this weekend bounce yet, as $BTC whales have not committed to a bullish trend. The real test lies in the $64,700 to $65,000 range, which needs to be cleared before further gains can materialize.

Bennett identifies $64,700 to $65,000 as a critical resistance zone. He explains that a move through this range would fill a previous gap—known as a single print—on the price chart and allow open interest to reset. Such a move could improve the conditions for a potential rally, but until then, skepticism remains.

Traders focus on key levels ahead

Looking at scenarios for the coming week, Bennett explains that a rejection from the $64,700 to $65,000 resistance band, followed by a break below $64,000, could lead to a retreat toward $61,000. Conversely, a decisive reclaim of $65,000 could set the stage for a push up to $67,000.

Bennett cautions that his outlook may change with new price developments. As of the latest data from CoinGecko, Bitcoin trades at $64,382.57, notching a 0.81% daily gain and recording $12.07 billion in 24-hour trading volume.

Overall, the debate on Bitcoin’s trajectory remains unresolved, with technical analysis and whale activity providing little clarity for now. Key price zones in the week ahead will likely determine whether the next major move is higher or if further losses await.