Kabuki Predicts Steep Decline in Bitcoin Price to $40,000

A recent analysis by crypto market expert Kabuki suggests that Bitcoin's price is on track for a significant decline.

Kabuki, who has accurately forecasted the cryptocurrency's past price tops and bottoms, believes that the current price structure is indicative of a downward zigzag pattern. This pattern, characterized by a series of declining highs and lows, typically signals a cycle bottom.

The analyst points to a bull trap formation in Bitcoin's recent price action, which he believes will lead to a steep decline towards the $40,000 region.

Kabuki outlines a projected bearish path for Bitcoin, which would see the cryptocurrency first decline towards $70,000 over the next few days. From there, it is expected to crash sharply towards $40,000 around June 2026.