Bitcoin May Drop 30%–40% Before A 'True Bottom,' Trader Warns

Prominent analyst Trader Mayne predicts that Bitcoin (BTC) may drop by 30% to 40% before reaching a 'true bottom,' despite currently holding above $70,000. He describes the recent rebound as a countertrend move, warning that a loss of support at this level could lead to further declines. Mayne also highlights broader economic concerns, suggesting the U.S. economy is entering a 'silent recession' with weakening labor data and declining consumer confidence, and he anticipates the Federal Reserve will cut interest rates sooner than expected.