Bitcoin’s recent rally has seemingly slammed into a wall, with the asset dropping over 6% this week to hover near $108,500.

The slide has the market asking one question: Is the bull run finally over? And one prominent analyst is sounding the alarm with a grim forecast.

Bearish Breakdown

On August 29, crypto commentator Klarck made a dire assessment of BTC’s state of health, predicting the OG cryptocurrency is headed for $90,000, a move that would also obliterate altcoins.

“Market has FINALLY reached its PEAK. $BTC is heading to $90k – ALTs will lose ~90%. Disagree? Be ready to lose everything,” the analyst warned.

He pointed to a massive $2.7 billion whale sell-off that sparked a cascading liquidation bloodbath exceeding $900 million, predominantly from leveraged positions, as the initial trigger. Additionally, he claimed that institutional players like BlackRock are leading the charge to exit, leaving optimistic retail investors as “exit liquidity.”

His thesis is rooted in what he calls a “textbook cycle top scenario.” Key indicators are flashing red: trading volume is drying up, funding rates remain excessively high, and BTC is being dumped on exchanges at an accelerating rate.

However, the market watcher’s most chilling claim is that the timeline is set. Based on historical halving cycles stretching back eight years, he gives the market approximately 30 days before a final, devastating “bull trap” and subsequent collapse.

Klarck isn’t alone in his caution. Fellow analyst Doctor Profit echoed his sentiment in part, highlighting a critical red flag: “Today, the charts scream the same warning again! Bearish divergences on the weekly chart!” And with BTC slipping more than 12% off its all-time high above $124,000 set just 16 days ago, the fear may feel justified to some.

Further firing up the debate is a recent suggestion by another analyst, Cryptobirb, that the cycle is already 93% complete, with a “grand finale” window between late October and mid-November 2025. That lines up eerily with Klarck’s own 30-day warning.

Conflicting Signals

But not everyone’s buying the apocalypse narrative. Crypto trader Mr. Wall Street insists that bears are celebrating too soon. “Bulls are still in control… shorts being triggered way too early,” he argued, projecting BTC to run toward $145,000 before any real bloodbath.

Meanwhile, influencer Kyle Chassé is hyping up research suggesting BTC could skyrocket to $190,000 by Q3, citing ETF demand and institutional inflows.