Bitcoin&#8217;s price recovery is not a new beginning: it is a familiar ending. That 
is the warning from a crypto analyst, who is of the notion that the current 
Bitcoin price action is playing out a bull trap the market has seen before and 
that the setup is pointing to a destination that sees the cryptocurrency 
crashing by almost 50% from current price levels. Related Reading: XRP Flashes 
Historic Rally Signal, Fueling $12 Price Speculation Bitcoin Mirrors Key 
Stepping Stones From 2022 Bear Cycle Chiefy&#8217;s analysis centers on a structural 
comparison between Bitcoin&#8217;s current price sequence and the step-by-step 
decline that defined the 2022 bear market. The framework identifies a pattern 
of bear cycle stepping stones, which is a series of lower highs and lower lows 
dressed up as recoveries on the weekly candlestick timeframe chart. This 
analysis is in reference to Bitcoin&#8217;s price action since it broke above 
$82,000 earlier in the week. Bitcoin is pressing into the 1-day 200 moving 
average, a zone that has already acted as resistance during a previous failed 
recovery attempt in January 2026. The analyst also pointed to the 1-week 200 
moving average at the lower support region and the 1-month 350 moving average 
below it, suggesting that a breakdown could force BTC through multiple long- 
term trend levels before finding a stronger base. This is exactly like the 
2022 bear market. In the previous bear cycle, Bitcoin did not fall in a 
straight line. It produced relief rallies that looked convincing enough to 
pull traders back in, only for the price to roll over again. Based on this 
view, the current rebound to the $80,000 range is not the start of a lasting 
breakout. It is the largest bull trap of the cycle. His projected path after 
the bull trap will see Bitcoin leave $82,000 and then go on a free fall to 
$50,000, then recover to $63,000, and finally crash to $42,000 again. Bitcoin 
Price Chart. Source: @0xChiefy On X Why This Rally Cannot Be Trusted The next 
move in the sequence, a crash to $50,000, would represent a decline of 
approximately 39% from current levels. The subsequent bounce to $63,000 would 
restore confidence briefly before the final descent to $42,000 completes the 
pattern. This final descent will translate to an almost 50% crash from current 
levels. Interestingly, CryptoQuant researchers warned that Bitcoin&#8217;s apparent 
demand metric, which tracks 30-day changes in estimated on-chain spot buying 
activity, stayed negative throughout April&#8217;s entire price rally. This shows 
that the late April and early May move that took Bitcoin to $80,000 was mostly 
due to higher perpetual futures demand, which is exactly like 2022’s bear 
market onset. Related Reading: Altcoins Aren’t Going Anywhere — Even After 
Brutal Crashes: Arthur Hayes The crash warning is also coming at a time when 
Bitcoin ETF flows are no longer offering a clean bullish background, as they 
have now posted consistent net outflows of a total of $423.15 million in the 
past two days. At the time of writing, Bitcoin is trading at $80,367. Featured 
image from Unsplash, chart from TradingView

Analyst Predicts Biggest Bitcoin Bull Trap Of The Cycle, Calls Out 50% Crash To $42,000

Evernorth says XRP’s institutional case rests on infrastructure built for 
regulated capital, not price charts or ETF demand. The firm pointed to XRPL 
upgrades involving compliance controls, restricted environments, escrow tools, 
and approved trading venues. XRP’s Institutional Case Depends on 
Infrastructure, Evernorth Says Evernorth, an XRP treasury company building its 
strategy around long-term participation in […]

Evernorth Says XRP’s Real Story Is Institutional Plumbing

The adoption of Stratum V2 by major mining pools could enhance Bitcoin&#8217;s 
decentralization, security, and miner profitability, reshaping industry 
dynamics.
The post Seven major Bitcoin mining pools join Stratum V2 working group 
appeared first on Crypto Briefing.

Seven major Bitcoin mining pools join Stratum V2 working group

Individual miners in Bitcoin mining pools must rely on block templates 
provided by the mining pool operator.

7 major Bitcoin mining pools join Stratum V2, working group

The US-Iran standoff exacerbates global supply chain vulnerabilities, 
potentially leading to increased costs and market volatility in Asia.
The post US-Iran standoff disrupts Persian Gulf shipping, impacts Asian supply 
chains appeared first on Crypto Briefing.

US-Iran standoff disrupts Persian Gulf shipping, impacts Asian supply chains

Bitcoin is presently trading above $80,000, as market bulls sustain the 
rebound from early April. However, the flagship cryptocurrency remains firmly 
in bear-market territory, down roughly 37.5% from its all-time high. Amid the 
ongoing rally, crypto analyst Aralez has outlined a potential price trajectory 
for the remainder of 2026, highlighting the key macroeconomic and market 
catalysts likely to shape Bitcoin’s next major move. Related Reading: 14,600 
Bitcoin Sold in Profit in One Day: Here Is How BTC’s Own Structure Broke It 
Below $80K Bitcoin To Fall Again, Cycle Bottom Likely In Q3 In an X post on 
May 8, Aralez shares an interesting Bitcoin price prediction for the last 
eight months of 2026. While prices have gained by 13% in the last month, the 
market pundit predicts that Bitcoin should eventually move towards the $60,000 
before the present quarter expires. The projected price retrace is expected to 
coincide with a decline in the S&amp;P 500 below $6000, suggesting a worsening or 
unfavorable macroeconomic environment. At this point, panic is expected to 
ravage the market, leading to a sharp deterioration in investor sentiment. 
Moving into Q3, Aralez foresees a much-anticipated cycle bottom, where sell- 
off should have slowed down as long-term investors begin to boost their 
holdings. Nevertheless, there would still be general distrust of Bitcoin, with 
sentiment mostly negative. At the same time, incoming US Federal Reserve 
Chairman Kevin Warsh is expected to signal an early rate cut, which should 
boost macro confidence. Meanwhile, Aralez also projects a decline in the S&amp;P 
500 below $5,900, reinforcing the idea that broader financial markets may 
still be under pressure even as smart money quietly positions itself Related 
Reading: Ethereum Sees Sharp Decline In High-Leverage Long Positions — See 
What Happens Next Q4: New Cycle Begins Moving into Q4, Aralez anticipates a 
decisive shift into recovery territory, with Bitcoin breaking above $85,000 as 
market momentum strengthens and accumulation from earlier phases begins to be 
reflected in price action. This stage is expected to coincide with the formal 
start of Federal Reserve rate cuts, signaling a clear easing of monetary 
conditions and an improvement in overall liquidity across financial markets. 
As confidence gradually returns, the analysis suggests the beginning of a new 
market cycle, driven by renewed institutional participation and sustained 
accumulation in risk assets. At the same time, the S&amp;P 500 is projected to 
stabilize around the 6,000 level, indicating that while equities may recover 
some ground, the broader macro environment remains in a cautious rebuilding 
phase rather. At press time, Bitcoin trades at $80,416 reflecting a minor 
1.46% gain in the last hour. Featured image from Freepik, chart from 
Tradingview

Cryptocurrency price in NZD

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