Bearish sentiment surrounding Bitcoin continues to escalate, leading to an increasing number of predicted market crashes. Notably, prominent crypto market analyst Dom (@traderview2) issued a stark warning on Wednesday, indicating that Bitcoin is nearing a critical junction that could result in a significant downturn if bullish actions are not taken promptly. "If this trend persists, it will break," Dom cautioned, referencing ongoing selling pressure and dwindling liquidity on major exchanges.
In a comprehensive analysis, Dom characterized the current market state as "crucial," emphasizing that Bitcoin and the overall cryptocurrency market are at a pivotal moment where "it must stabilize itself or face a decline." He noted that the weekly chart shows a bearish "liquidity grab," where Bitcoin briefly surpassed the previous weekly high before experiencing a sharp reversal, a pattern often indicative of local peaks. This reversal has coincided with a three-touch declining strength formation, suggesting a reduction in bullish momentum. "I believe the bulls are running out of time to rectify this chart; it needs to happen soon, in my opinion," Dom added, highlighting the urgency for a bullish recovery to negate this pattern.
Underpinning these price movements, the structural integrity of the market appears increasingly vulnerable. Dom pointed out the alarmingly low order book volumes across major spot markets such as Binance, Bybit, Coinbase, OKX, and Kraken. In the last three weeks, approximately 38,000 BTC has been sold into the market, absorbed by passive buy orders. While buyers have maintained their position thus far, Dom warned that there is almost no visible liquidity below current price levels. "There is virtually no support down to the $80,000 range (at least for now), not even indications of support," he stated.
The same bearish trend is evident in perpetual futures markets, with platforms like Binance, Bybit, OKX, and Hyperliquid experiencing persistent selling pressure, which Dom described as a "relentless downtrend of market selling." With thin order books in these markets as well, the selling pressure may become unsustainable unless conditions change rapidly. Drawing a comparison to Bitcoin's decline from the $90,000 level in February, Dom remarked, "We witnessed a similar dynamic prior to the breakdown from $90,000." The message is clear: without a shift in market dynamics, Bitcoin could face a comparable fate.
Seasonal trends are also contributing to the bearish outlook. Dom noted that summer months typically bring weaker market participation and reduced liquidity, conditions that amplify downward movements and limit the effectiveness of bullish attempts to regain control. Despite the bleak assessment, Dom clearly stated that his bearish stance could be invalidated should Bitcoin reclaim the $108,500 level. "If that level is regained, that would be positive. I believe we could negate these signals," he explained. "But for now, my outlook remains bearish, offering a better risk-reward ratio from a risk-first perspective."
In a follow-up comment, Dom acknowledged that a dip to the $96,000–$98,000 range, even with a brief drop into the $80,000s, would not necessarily disrupt the market structure. "Such a move would not be unusual, and I believe the structure would still hold," he stated, adding that he would reevaluate the situation if it occurred. With order books thinning, intensified seller activity, and a lack of solid support below, Dom's message is clear: time is of the essence. At the time of reporting, Bitcoin was trading at $104,694.
