Analyst Il Capo calls Bitcoin rally a bull trap, forecasts crash to $65K
- —Il Capo expects a spike to $92K, then a decline to $65K–66K by late November
- —Key level is $80,537, which capped Bitcoin's gains in May and September
- —Spot Bitcoin ETFs saw $678.9M in net outflows from Oct. 5–9, with $729M on Oct. 7–8 alone
- —Strategy bought another 250 BTC and now holds 848,250 coins
Why it matters: The forecast implies a retest of the $63K–68K zone where Bitcoin consolidated over the summer; a daily close below $80.5K would be the first confirmation.
Source: Bithub