Renowned trader The Flow Horse predicts a potential downturn for Bitcoin (BTC) in the near future due to a lack of significant buyers.
The trader informs his 228,000 followers on the social media platform X that Bitcoin is likely to mirror the slow descent pattern seen in Ethereum’s Bitcoin pair (ETH/BTC) over the past few months.
According to the anonymous analyst, Bitcoin is expected to continue its downward trend with occasional rebounds unless large investors intervene to drive up BTC’s momentum.
“Bitcoin is likely to follow the same slowbleed.exe pattern as ETH/BTC. Ultimately, substantial buyers must step in to signal to others; otherwise, short-term buyers and sellers will dominate. It’s not as straightforward as ‘ETFs are purchasing’ because there are no passive or mandated buyers. If there were, we would observe positive drift.”
Currently, the analyst notes that Bitcoin is clearly on a downward trajectory, forming lower highs and lower lows rather than being in a range as some may believe.
“Bitcoin is in a range.”
Given the lack of strength in Bitcoin and the overall crypto market, The Flow Horse reveals through a pie chart that most of his investment is in stablecoins.
“Until we see significant changes.”
As of the time of writing, Bitcoin is trading at $57,518, experiencing a decrease of over 2% for the day.
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