BTC/USD is still hovering around the $105,000 threshold over the last day. It has proved its own fortitude at this alt since the early part of last week. Despite this stability, concerns linger about a potential market correction, especially given the crashes experienced by Bitcoin, Ethereum, and XRP just two months prior in April. A respected and influential crypto analyst has since weighed in with a more pessimistic view, further fanning the flames of worry.

Cryptocurrency analyst Warren MUPPET expects a huge downside revision for Bitcoin and other large cap cryptocurrencies. MUPPET’s forecast consists of a list of expected price floors that have piqued the interest of accredited investors. According to these projections, Bitcoin could eventually sink as low as $93,500, Ethereum as low as $2,100 and XRP as low as $1.6.

Bitcoin's Critical Threshold

Currently, Bitcoin is trading at $105,090. Meanwhile, the crypto price needs to hold above the important $100k psychological support line. This is especially key to maintain broader market stability. If Bitcoin breaks through this level, many analysts are concerned that it could trigger a broader market sell-off. This would probably cause an even larger price drop across all the other cryptocurrencies.

Whether or not this porcine paradigm becomes true is heavily contingent on Bitcoin staying over $100,000. This level serves as an extremely important bellwether for overall market sentiment. It can cause price runs—up or down.

A decline past $100K for Bitcoin might quickly trigger a larger market price collapse. Institutional investors are nervously watching Bitcoin’s price shift, since its ascension or descent typically pulls in the entire cryptocurrency market with it.

Ethereum and XRP's Current Stance

For the moment, Ethereum’s first priority is to defend its support at $2,500. This 200 period SMA level is considered to be an important support level on this timeframe and a break below this level would likely cause more downside.

XRP has seen a swift recovery and is currently maintaining its support at $2.10 within the last 24-hours trading. This relative stability offers some comfort to investors, however demand in the market across the board is still skittish.

Warren MUPPET forecasts Ethereum to go as low as $2,100 and XRP to slink down to $1.60. These possible decreases have investors justifiably spooked.

Analyst's Bearish Forecast

Warren MUPPET oracle projected a serious downside correction for Bitcoin and major altcoins. This overly optimistic forecast has led to vibrant debates among investors and financial experts. According to the projected price levels, Bitcoin will reach $93,500, Ethereum will rise to $2,100 and XRP will increase to $1.6. If the market goes that way, investors may be looking at big losses.

We should emphasize that these are projections and not something guaranteed. We all know that the cryptocurrency market is really volatile and any coin’s price can drop 10% within an hour.

Investors should do their own research and use due diligence when making investment decisions. Warren MUPPET sounds the alarm, as it sees significant downside correction potential. This further underscores the immense importance of sound risk management and diversification within the cryptocurrency market.