Bitcoin BTC/USD is up 5.8% week-over-week on lukewarm bullish momentum, but former ARK Invest cryptocurrency lead Chris Burniske predicts more downside to come.

What Happened: Burniske shared his prediction on X (formerly Twitter), saying: “Down to consolidation still looks like the most likely path to me.”

In doing so, Burniske doubled down on his previous prediction of “mid $20Ks,” though he did not share a price target in his latest post.

Observers expressed curiosity as to what led Burniske to arrive at this bearish outlook despite a broadly positive macroeconomic backdrop. 

Rob Paone jokingly suggested “Recommend no more news like these, for the sake of the people, our…

Read more on Benzinga