Crypto trader Ansem has turned bearish on Bitcoin (BTC) and Ethereum (ETH). He warns that both assets broke their mid-timeframe trend and could slide faster below $82,000 and $2,400.
Ansem also says being bullish onchain has become a contrarian position. In his view, sentiment is the worst he has seen in roughly nine years, and Bitcoin and ETH holders could face a deeper pullback.
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Why Ansem Turned Bearish on Bitcoin Now
Ansem bases his call largely on stock market technicals. In his view, AI momentum stocks printed a parabolic blow-off top, a steep final surge that often marks the end of a rally. A lower high and a broken trend followed.
Meanwhile, he says even the largest tech names are stalling at all-time highs. He adds that a recent breakout in the Invesco QQQ, a fund that tracks the Nasdaq 100, has turned into a failed move above prior 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. Source: X
He also questions where the next wave of AI revenue will come from. He argues that heavy spending on model training has yet to lift profits in a meaningful way, and he points to Metas post-earnings selloff as an example.
Headline risk adds more pressure. The Federal Reserve announces its rate decision on October 28, in a packed Fed week that also brings major earnings reports.
Crypto analyst Benjamin Cowen has also laid out a bearish Q4 roadmap for Bitcoin.
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Bitcoin Price Performance. Source: BeInCryptoCan Onchain Builders Lift the Mood？
Still, Ansem is not bearish on Bitcoin over the longer term. He expects a pullback first and then a move higher.
The crypto trader also expects heavy volatility in both directions through the fourth quarter. Even so, he believes parts of the onchain market could still do well.
Ansem saves his sharpest criticism for Crypto Twitter itself. Traders complain about lower price ceilings on tokens, he says, while too few people build protocols that could change that.
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
Ansem. Source: X
His optimism on select tokens matches 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 room for some onchain projects. In his view, tokens will only break through lower price ceilings if builders put in the work to ship protocols worth owning.