Bitcoin (BTC) is predicted by Justin Bennett to reach a new record high, here’s why!

Updated

June 2, 2025

Gambar Bitcoin (BTC) is predicted by Justin Bennett to reach a new record high, here’s why!

Jakarta, Pintu News – A widely-followed crypto analyst recently revealed that the current Bitcoin price drop will actually be a stepping stone to reach a new price peak. Justin Bennett, who has 115,000 followers on social media platform X, argues that this retraction will make traders pessimistic about the Bitcoin (BTC) bull market.

Bitcoin (BTC) Price Drop Analysis

This is the part where everyone gets super bearish, expecting a 2021-style macro top.

It's also probably where overly aggressive shorts get rekt.

1. The run-up isn't even close to the same
2. The backdrop couldn't be more different
3. I doubt they make it this easy$BTC… pic.twitter.com/D76Da0tRtS
— Justin Bennett (@JustinBennettFX) May 30, 2025

According to Bennett, Bitcoin (BTC) is expected to experience a correction below $100,000 before embarking on a new surge towards $120,000. “This is when everyone gets very bearish, expecting a 2021-style macro top. It’s also probably where overly aggressive shorts will take big losses,” Bennett said. In 2021, Bitcoin (BTC) tried but failed to break resistance at $69,000 twice, which triggered a bear market and lowered the price of Bitcoin (BTC) to a bear market low of $16,000.

Also Read: MicroStrategy Up 2,930%! Michael Saylor’s Crazy Strategy in Crypto Turns out to be Fruitful

Support and Resistance Projections

$BTC next leg down confirmed.

$104,800 flips to key resistance. Support is $100k.

Same outlook for the last 9 days. #Bitcoin https://t.co/NtnXpMrXjy pic.twitter.com/eKCv3XOks5
— Justin Bennett (@JustinBennettFX) May 31, 2025

Bennett pointed out that Bitcoin (BTC) might find support at $100,000 or $97,000. “Confirmation of Bitcoin (BTC)’s next move down. $104,800 turns into key resistance. Support is $100,000. Outlook is the same for the last nine days,” he added. Currently, Bitcoin (BTC) is trading at $104,439, indicating that the market is still in a volatile state.

Overall Crypto Market

I've gotten a lot of pushback on my bearish call since last week.

I could be wrong. I'm certainly not always right. However, I'm not sure how some are interpreting this as bullish. 👇

Things can change, but right now, sellers are in control.$TOTAL $BTC $ETH https://t.co/eQTLW0sD5D pic.twitter.com/GnyjMPscNj
— Justin Bennett (@JustinBennettFX) May 30, 2025

Looking at the crypto market more broadly, Bennett also looked at the TOTAL chart, which tracks the total market capitalization of all digital assets. He believes that TOTAL is due for a correction and finds support at $3.04 trillion, which is in line with the expected Bitcoin (BTC) withdrawal. “I could be wrong. I am certainly not always right. However, I am not sure how some people interpret this as bullish. Right now, sellers are controlling the market,” Bennett explained. Currently, TOTAL is trading at $3.225 trillion.

Conclusion

Although the market is showing bearish signs, Bennett’s analysis suggests that this could be an opportunity for Bitcoin (BTC) to reach unprecedented price levels. By understanding the market dynamics and traders’ attitudes, investors may be able to capitalize on this situation for long-term gains.

Also Read: Bitcoin in danger of weakening again? Bollinger Bands indicator gives this sign!

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities are subject to high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.