Capo, a well-known cryptocurrency trader and analyst, said Bitcoin (BTC) due to the decline in the overall market. 
$61,536 and Ethereum (ETH) 
$2,386 has a negative expectation on it. Sharing his latest observations with his followers on the social media platform X, the analyst warned that Bitcoin and Ethereum could fall by 21 percent and 23 percent, respectively, from current levels.
Expected Decline for Bitcoin and Ethereum
“There is a possibility of a final fluctuation, it is possible for BTC to test the range of 48 thousand – 50 thousand dollars and for ETH to test the range of 1800 – 2 thousand dollars,” the analyst said in his comment.
Bitcoin is currently trading around $61,000 and is down 6 percent in the last seven days. While Ethereum was trading at $2,345, it lost 11 percent of its value in the last seven days.
Situation in the Altcoin Market
On the other hand, Capo stated in his post to his subscribers on the Telegram channel that OTHERS, which is the total market value of the altcoins among the ten largest cryptocurrencies in terms of market value, may decline between 132 billion dollars and 164 billion dollars after failing to rise above a significant resistance level. “If this happens, there is no need to worry. In fact, this could present a great buying opportunity. “We need to adapt to the signals we receive from the market,” he added. The analyst emphasized the need to adapt to current market conditions.
OTHERS’ market cap currently stands at $203.645 billion. Capo stated that market participants should be aware of these fluctuations and determine their strategies accordingly.
Such market movements present risks and opportunities for investors. Capo pointed out that the altcoin season that will follow the fluctuations could be important.
Overall, how the market shapes up after the potential decline in Bitcoin and Ethereum can guide investors’ strategies. Acting according to the current situation is important for risk management.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
