Jacob King, an analyst at WhaleWire, issued a warning about the trajectory of Bitcoin and the broader cryptocurrency market.

In a job On XKing highlighted key developments that he believes could lead to a long-term bear market.

The king pointed out Microstrategy Bitcoin decline (Bitcoin) purchases, El Salvador's apparent shift away from its Bitcoin-focused policies, and BlackRock's significant sale of Bitcoin holdings as critical warning signs for investors.

In the past, King has repeatedly described MicroStrategy's Bitcoin-focused business model as a "giant scam," arguing that... It's not sustainable And headed for collapse.

He also noted that Tether (USDT), one of the leading stablecoin issuers, has paused new minting activity for more than 20 days, a period that coincides with the recent slump in Bitcoin prices.

“The calm before the storm,” King declared, warning that a potential pullback in the cryptocurrency market could coincide with a broader stock market collapse. He attributed the current optimism in the market to "greed" and advised investors to re-evaluate their risks before holding their positions further.

King's criticism comes at a time when Bitcoin is trading at $98,387.00.