Bitcoin’s recent market dynamics have left traders poised on the edge of their seats, and Brent Donnelly, the president of Spectra Markets, is no exception. As of September 5, 2025, Donnelly has strategically placed bids at $94,000 and $82,000, preparing for what he terms a potential ‘market freakout.’ The current lack of bullish drivers, coupled with a deteriorating technical forecast, has prompted this preemptive move.
The Looming Bearish Shadow
In a market update, Donnelly articulated a cautious outlook, expressing skepticism about Bitcoin’s short-term prospects. He highlighted the absence of a coherent bullish narrative, pointing out that Bitcoin is currently behaving more like a risky asset than the store of value many enthusiasts once championed. The excitement surrounding Digital Asset Treasuries (DATs)—corporate adoption of BTC as a treasury asset—is waning. Meanwhile, the expected positive effects of Bitcoin’s halving event, traditionally a catalyst for price surges, appear to be losing their luster.
Historically, Bitcoin’s bull markets peak approximately 16 to 18 months following a halving event, with a bear market often trailing in its wake. Given that the latest halving occurred in April 2024, the clock is ticking on the current bullish phase. “The pattern seems to be playing out,” Donnelly observed, flagging the potential end of the bull run and the onset of bearish times. This sentiment echoes recent analyses, such as the Pundit Calls Bitcoin Price Crash Below $93,000, Reveals Bear Targets From Here, which also highlights potential bearish targets.
However, not all traders are convinced. Some argue that the institutionalization of Bitcoin—through the advent of Exchange-Traded Funds (ETFs)—has diluted the influence of halving cycles. With miner flows now contributing to less than 5% of market volume, these traders suggest that traditional cycles are no longer the definitive guide they once were.
Technical Patterns and Market Sentiments
Adding to the sense of caution, Donnelly pointed to Bitcoin’s technical indicators. The cryptocurrency recently formed a double top—a classic bearish reversal pattern—following a significant dip after Jerome Powell’s “dovish” speech at Jackson Hole. This pattern was further solidified when Bitcoin plunged below $111,982 last week, confirming a breakdown and signaling a shift towards bearish territory. As noted in Bitcoin bull market will be ‘over’ if $100K BTC price is lost: Trader, maintaining key price levels is crucial for sustaining bullish momentum.
Despite a subsequent rebound to this price level, which now acts as resistance, BTC hovers at a critical juncture. A decisive move above this threshold could undermine the bearish scenario, yet any downward trajectory would likely reinforce it, potentially heralding a deeper decline.
The broader market is also keeping a close eye on economic data. This Friday’s U.S. nonfarm payrolls report looms large, with a stronger-than-expected result possibly negating hopes for Federal Reserve rate cuts—another factor that could exert downward pressure on Bitcoin.
Eyeing the Horizon
In anticipation of these developments, some traders are hedging their bets, snapping up undervalued Bitcoin put options on the CME. This strategy reflects a broader market sentiment of caution tinged with opportunism, as traders seek to navigate the uncertain waters ahead.
What does all this mean for Bitcoin’s future? The market is at a pivotal moment, grappling with the interplay of historical patterns, technical signals, and macroeconomic influences. As traders like Donnelly position themselves for potential turbulence, the question remains: will Bitcoin weather the storm or succumb to the prevailing bearish winds?
As September unfolds, the cryptocurrency community will be watching closely, eyes peeled for the next move in this ever-evolving market landscape. Whether Bitcoin’s resilience can outlast the current bearish forecast is yet to be seen, leaving traders and analysts alike to ponder the road ahead.
Source
This article is based on: Bitcoin Crash Brewing? Trader Plans Bids at $94K, $82K for Potential Market Freakout
Further Reading
Deepen your understanding with these related articles:
- Bitcoin Price Crash? Here’s Where BTC Might Bottom Out
- Bitcoin Price Warning: Is a Major Sell-Off Coming Next?
- Bitcoin price loses key multiyear support trendline: A classic BTC fakeout?
Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
