# CRAIG COBB: BITCOIN’S BEARISH TREND IS STILL INTACT

Page: https://stenobird.com/podcast/daily-crypto-news-6024634/craig-cobb-bitcoin-s-bearish-trend-is-still-intact
Text version: https://stenobird.com/podcast/daily-crypto-news-6024634/craig-cobb-bitcoin-s-bearish-trend-is-still-intact.md
Podcast: [Daily Crypto News](https://stenobird.com/podcast/daily-crypto-news-6024634)
Published: 2026-06-01T19:00:43+00:00
Episode link: https://shows.acast.com/today-in-web-3/episodes/6a1dd6dc626f8869c3ad8c99
Audio file: https://sphinx.acast.com/p/open/s/63e26a946b77a10011ea5094/e/6a1dd6dc626f8869c3ad8c99/media.mp3
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JSON: https://stenobird.com/v1/public/podcasts/daily-crypto-news-6024634/episodes/craig-cobb-bitcoin-s-bearish-trend-is-still-intact
Duration seconds: 640

## Resource

Craig Cobb says the market continues to look overwhelmingly bearish, and from his perspective, the recent price action has only reinforced that view. While many investors disappear when prices fall, Craig says these are the periods that get him most excited because they create opportunities for long-term accumulation. Having remained largely in cash throughout the downturn, he is now watching closely for signs that Bitcoin could offer a more attractive reentry point. The key level Craig continues to focus on is the $74,000 area. This zone previously acted as major resistance before becoming support following President Trump's election victory rally. Last week, Bitcoin broke below that level and has since struggled to reclaim it. On both the daily and weekly charts, Craig sees a clear pattern of lower highs and lower lows, with the two-week timeframe also showing what he considers a textbook downtrend. To him, the trend remains firmly bearish until proven otherwise. Craig is also paying close attention to the monthly chart. May closed as a bearish month after Bitcoin failed to hold above $80,000, and he believes a break below the May low near $72,460 could open the door for significantly more downside. While he is not predicting that Bitcoin will revisit previous cycle lows, he does believe momentum could accelerate if key support levels fail. Rather than rushing back into the market, he remains comfortable holding cash and waiting for better opportunities. Ethereum continues to be one of Craig’s biggest concerns. He notes that Ethereum showed weakness long before Bitcoin rolled over and has now fallen below the psychologically important $2,000 level. Because Ethereum often serves as a barometer for the broader altcoin market, its continued weakness suggests that altcoi…

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## Transcript

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