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Crypto trader Ansem has turned bearish on Bitcoin (BTC) and Ethereum (ETH). He warns that both assets have broken their mid-timeframe trend and could accelerate downward below $82,000 and $2,400.
Ansem also notes that maintaining a bullish onchain stance has become a contrarian position. In his view, market sentiment is at its worst in approximately nine years, and holders of Bitcoin and ETH could face a significant pullback.
Why Ansem Turned Bearish on Bitcoin Now
Ansem bases his outlook largely on stock market technicals. He observes that AI momentum stocks formed a parabolic blow-off top—a steep final surge that often signals the end of a rally—followed by a lower high and a broken trend.
Meanwhile, he points out that even the largest technology companies are stalling at all-time highs. He adds that a recent breakout in the Invesco QQQ, an exchange-traded fund tracking the Nasdaq 100, has turned into a failed move above previous highs.
i am bearish btc/eth & large cap stocks believe btc & eth have broken mid timeframe trend and will continue to accelerate to downside under 82k/2400
dont think the average retail speculator is going to slow down tho, Q4 is going to have a lot of volatility for traders in both…
— Ansem 🐂🀄️ (@blknoiz06) October 26, 2026
Ansem also questions the source of the next wave of AI revenue. He argues that heavy spending on model training has yet to meaningfully boost profits, citing Meta’s post-earnings selloff as an example.
Headline risk adds further pressure. The Federal Reserve is set to announce its rate decision on October 28, during a packed week for Fed announcements and major earnings reports.
Crypto analyst Benjamin Cowen has also outlined a bearish Q4 roadmap for Bitcoin.
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Bitcoin Price Performance. Source: BeInCrypto
Can Onchain Builders Lift the Mood?
Despite the short-term outlook, Ansem remains bullish on Bitcoin over the longer term. He anticipates a pullback first, followed by a move higher.
The crypto trader also expects heavy volatility in both directions throughout the fourth quarter. Nevertheless, he believes that specific segments of the onchain market could still perform well.
Ansem reserves his sharpest criticism for Crypto Twitter itself. He notes that traders complain about lower price ceilings for tokens, yet too few individuals are building protocols that could actually change that dynamic.
it has become complete counter-consensus to be bullish onchain now, have never seen sentiment this bad & ive been here ~9 years
crypto twitter has forgotten that it requires actual work on the builder side to make coins do well, so many traders complaining about lower ceilings…
— Ansem 🐂🀄️ (@blknoiz06) October 26, 2026
His optimism regarding select tokens aligns with his August call, when Ansem predicted that Pump.fun’s token could join crypto’s top 10 by 2028.
For now, Ansem is bearish on Bitcoin but still sees potential for certain onchain projects. In his view, tokens will only break through lower price ceilings if builders put in the work to ship protocols worth owning.
