Bitcoin has performed wonderfully consistently, with Bitcoin maintaining 24-hour value around the $105,017 barrier. This unseen resilience has been on display for the better part of the last week. One of the most influential crypto analysts says a deep correction might shake up Bitcoin, Ethereum, and XRP. That prediction comes only two months after all three cryptocurrencies simultaneously fell in value during April.

Bitcoin was recently trading around $105,090. While Ethereum continues to battle to remain above the $2,500 mark, XRP manages to do well staying above the $2.10 level. The outlook in the near term for these altcoins will depend on whether Bitcoin can hold above this key $100,000 level. Failure to take these measures soon could ignite a steeper market correction.

Analyst's Bearish Forecast

Warren MUPPET is predicting a massive downside correction for Bitcoin and other large cap cryptocurrencies. MUPPET recently posted their list of projected price floors. They recommend future targets of $93,500 for Bitcoin, $2,100 for Ethereum, and $1.6 for XRP. These targets would imply a more than 50% drop from the current trading prices of all three asset classes.

The analyst's forecast has sparked discussion among investors, especially considering Bitcoin's recent stability. If Bitcoin were to fall back down to $93,500, that would be alarming. This decline can be seen as a sign of the waning loss of confidence in the whole crypto craze.

Market Stability and Potential Risks

For many bullish investors, Bitcoin’s capacity to maintain levels above the $105,000 mark on a daily basis is reassuring. This kind of stability would imply underlying strength and might point to a bullish trend continuing.

The risk of Bitcoin declining below the $100,000 support level shouldn’t be underestimated. Such a drop may initiate cascading sell-offs and amplify downward price action throughout the entire crypto space. Ethereum can’t maintain a $2,500 floor. Meanwhile, XRP remains above $2.10, further confusing the short-term trend of the entire market.

Monitoring Key Price Levels

The next few days will be key to watch whether or not Bitcoin will be able to hold above USD 60k. Both investors and traders alike have their eyes on the $100,000 level of resistance as an important tell. If Bitcoin falls through this level of support, it will likely confirm the downside prediction of Warren MUPPET and set the stage for deeper losses.

The future price targets of $2,100 for ETH and $1.6 for XRP are worth keeping an eye on too. A sustained downturn in Bitcoin's price could put pressure on these cryptocurrencies and potentially drive them toward the analyst's targets.