Technical expert Tony Severino has warned that the Bitcoin and altcoins Fischer Transform indicator has flipped bearish for the first time since 2021. The analyst also revealed the implications of this development and how exactly it could impact these crypto assets.

Bitcoin And Altcoins Fischer Transform Indicator Turns Bearish

In an X post, Severino revealed that the total crypto market cap 12-week Fisher Transform has flipped bearish for the first time since December 2021. Before then, the indicator had flipped bearish in January 2018. In 2021 and 2018, the total crypto market cap dropped 66% and 82%, respectively. This provides a bearish outlook for Bitcoin and altcoins, suggesting they could suffer a massive crash soon enough.

Related Reading

In another X post, the technical expert revealed that Bitcoin’s 12-week Fischer Transform has also flipped bearish. Severino noted that this indicator converts prices into a Gaussian normal distribution to smooth out price data and filter out noise. In the process, it helps generate clear signals that help pinpoint major market turning points.

Severino asserted that this indicator on the 12-week timeframe has never missed a top or bottom call, indicating that Bitcoin and altcoins may have indeed topped out. The expert has been warning for a while now that the Bitcoin top might be in and that a massive crash could be on the horizon for the flagship crypto.

He recently alluded to the Elliott Wave Theory and market cycles to explain why he is no longer bullish on Bitcoin and altcoins. He also highlighted other indicators, such as the Parabolic SAR (Stop and Reverse) and Average Directional Index (ADX), to show that BTC’s bullish momentum is fading. The expert also warned that a sell signal could send BTC into a Supertrend DownTrend, with the flagship crypto dropping to as low as $22,000.

A Different Perspective For BTC

Crypto analyst Kevin Capital has provided a different perspective on Bitcoin’s price action. While noting that BTC is in a correctional phase, he affirmed that it will soon be over. Kevin Capital claimed that the question is not whether this phase will end. Instead, it is about how strong Bitcoin’s bounce will be and whether the flagship crypto will make new highs or record a lackluster lower high followed by a bear market.

Related Reading

The analyst added that Bitcoin’s price action when that time comes will also be trackable using other methods, such as money flow, macro fundamentals, and overall spot volume. The major focus is on the macro fundamentals as market participants look forward to Donald Trump’s much-anticipated reciprocal tariffs, which will be announced tomorrow.

At the time of writing, the Bitcoin price is trading at around $83,000, up around 1% in the last 24 hours, according to data from CoinMarketCap.

Featured image from Unsplash, chart from Tradingview.com

A closely followed crypto strategist believes that the native asset of a layer-2 scaling solution could witness an over 3x rally this year.

Pseudonymous analyst Inmortal tells his 231,000 followers on the social media platform X that he’s bullish on Mantle (MNT), noting that he believes the altcoin has already printed a 2025 bottom at around $0.6.

According to the trader, a 279% rally for MNT this year is a high-probability scenario.

“Starting to feel like bottom is in.

Big players have been buying over the last few weeks, and it shows.

$3 in 2025 is very likely, high-conviction play for me.”

Based on the trader’s chart, he seems to predict that MNT will surge to $1.30 in the coming months.

At time of writing, MNT is worth $0.79.

Turning to Bitcoin, the trader unveils a potential path for BTC to print a durable bottom this year. According to Inmortal, BTC could temporarily drop below $70,000 before igniting the next stage of the bull market en route to a new all-time high of $135,000.

“They will try to shake you out, but this is the bottom.

Save the tweet.

BTC.”

At time of writing, BTC is trading for $82,374.

As for Ethereum, Inmortal predicts that the price of ETH may plummet below $1,500 before sparking a short-term rally toward $2,000.

“Expansions lead to retraces. Retraces lead to bounces.

Bounce soon.”

At time of writing, ETH is trading at $1,822.

Follow us on X, Facebook and Telegram

Don’t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

A large bitcoin (BTC) options bet crossed the tape on Deribit as the first quarter drew to a close on Monday, revealing bearish sentiment from the trader behind the move.

The so-called block trade carried a premium of more than $1 million for 1,180 contracts of the $70,000 put option expiring April 25, according to data tracked by Amberdata.

A put option gives the purchaser the right, but not the obligation, to sell the underlying asset at a predetermined price at a later date. A put buyer is essentially bearish on the market, in this case, anticipating a price drop to below $70,000 from the current $84,000.

A block trade is a large, privately negotiated transaction executed outside the public market, typically by institutions, to avoid affecting the going market rate.

Other notable trades included a put ratio spread, featuring long positions in the $75,000 strike put and double short positions in the $70,000 put; and a risk reversal, involving a long position in the $90,000 call and a short position in the $70,000 put, as Pelion Capital founder Tony Stewart noted.

The bearish flow in the $70,000 put follows purchases of put options expiring April 4 in the $78,000 to $85,000 range last week and increased demand for the $76,000 put option expiring on April 25.

Broadly speaking, BTC puts are trading at a premium to calls, exhibiting downside sentiment out to the May-end expiry, as evident from the negative values in risk reversals.

The bias for puts offering downside protection likely reflects investor anxiety surrounding President Donald Trump’s expected reciprocal tariffs announcement on Wednesday. An aggressive move could weigh on risk assets, including cryptocurrencies.