Bitcoin Could Drop to $39K Before Bottom, Analyst Warns

A pseudonymous crypto analyst known as NoName warned that Bitcoin (BTC) could be weeks away from its bear-market low even after a recent recovery. In a July 28 post on X, NoName said an unfilled fair value gap above the current price may be completed before a final drop into a $39,000 to $49,000 range. The analyst expects BTC to first enter and fill the gap, then fall within one to three days into a multi-week search for a bottom, after which a bullish view could return. The comments follow a prior post in which NoName said they sold BTC near a 2025 all-time high around $117,000. Kalshi assigns a 55% probability to BTC reaching $50,000 before returning to $100,000, while CoinGecko data shows BTC down about 3% over seven days and roughly 30 days up more than 5%.