June kicked off with Bitcoin and Ethereum plunging to yearly lows, yet whispers in the markets suggest the true cycle bottom remains ahead 🕷️. The burning question lingers on which one—BTC or ETH—will hit its floor sooner, and one sharp observer just shared his take.
Ethereum Might Slip First 🌹
X user Ted argued that the second-largest crypto stands a better chance of bottoming ahead of the leader. He noted most downside liquidity looks swept away already, eyeing a potential slide to 1300-1400. “But after that, upside liquidity will start to look more interesting,” he added.
Right after, Ted noted Ethereum breaking under the key 1700 mark and flagged a further 5-6% drop unless it reclaims that zone fast 🦇. Plenty of other voices see darker days ahead for ETH. Ali Martinez said it is breaking from its channel and sitting below the 200-hour SMA, targeting 1580 next. Niels claimed the cycle low for Ethereum still lies ahead, calling for a crash as low as 1200 this year while calling current prices a solid buy chance.
Bitcoin Eyes Deeper Shadows 🖤
Early June saw the flagship crypto tumble near 59000 for the first time since late 2024. Ted views that level as no real floor. He spotted a huge liquidity pocket between 50000-60000, the same area packed with large buy orders on exchanges. That points to a likely sink toward 50K, possibly with a wick.
X users bee and Crypto Lens echoed bearish calls. Bee expects BTC on the verge of the final flush down to 51000-52000, while Crypto Lens eyes 43000 by August. Still, not everything spells gloom. Declining Bitcoin on exchanges hints at a rebound, with the figure hitting a six-year low as holders shift to self-custody and ease sell pressure. Whales scooped up over 30000 BTC in one week, a clear sign they are loading for the next leg up and could pull retail along too.
Just another echo from the void by iconofsin.eth 💖
