After briefly adopting a more optimistic tone amid Bitcoin’s strong rally earlier this year, the trader—popularly known by the pseudonym “Il Capo of Crypto”—has shifted back to a bearish outlook, citing recent weakness in the altcoin market.
According to the analyst, many altcoins appear to have completed short-lived relief rallies, only to return to familiar price ranges. He believes this pattern signals that the broader correction is far from over.
Solana (SOL) was highlighted as a key example. The analyst pointed out that SOL has fallen roughly 20% from a major resistance zone and suggested that its most realistic support lies between $60 and $80.
Despite market hopes that the worst might be behind, the analyst warned that the true phase of capitulation has not yet arrived. In his view, both Bitcoin and altcoins still have room to fall before any meaningful recovery can begin.
This renewed bearish stance comes as traders weigh global macroeconomic concerns, crypto regulation developments, and continued volatility across the digital asset landscape.
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