Atlas Capital CEO Reza Bundy Warns Bitcoin Could Fall 70% To $26,000-$30,000

Reza Bundy, CEO of Atlas Capital, told CoinDesk at the Proof of Talk conference in Paris that “We think there's going to be a massive drawdown in bitcoin in the next six months,” framing a forecast that bitcoin could fall “up to 70%” before any longer-term climb.

Bundy said the drawdown could take bitcoin into a range of $26,000 to $30,000, and he linked the severity to a scenario where “If there's a drawdown in the stock market that's even half of what happened in 2008, Bitcoin will double that debt loss.”

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CoinDesk reported that Bundy’s bearish outlook is tied to analysis developed alongside his Chief Economist and co-founder Nouriel Roubini, known as “Dr. Doom,” and it described Roubini as a longtime bitcoin critic whose skepticism stretches back to the historic 2017 bull run.

The same CoinDesk account said Bundy still expects a long-term price range of $150,000 to $500,000, and it noted that he believes bitcoin’s growth will be driven by rising government debt, central bank money printing, and dropping trust in traditional currencies.

Standard Chartered’s warning, as relayed by CryptoRank, centered on three macro and institutional triggers that could push bitcoin toward a new low, including accelerating US spot ETF outflows and a hawkish Fed in June/July that removes expected rate cuts.

CryptoRank said US spot Bitcoin ETFs recorded $1.42 billion in outflows for the week ending May 29 and that total outflows over the preceding three weeks exceeded $4.21 billion, while bitcoin traded near $62,562 and sat at the lower boundary of the Power Law corridor.

Cryptonews.net

The outlet reported that Standard Chartered’s head of digital assets research, Geoff Kendrick, told clients directly: “I think when we look back at the end of 2026 with BTC at $100k and ETH at $4k we will say this was the buying zone we all wanted.”

CryptoRank also said Kendrick’s framework hinged on whether Bitcoin dominance breaks below the 52–54% range, and it described the Power Law Oscillator at 4.4% as indicating bitcoin was priced cheaper than 95.6% of historical readings relative to its long-term trend.

Across the accounts, Bundy’s Atlas Capital stance and Standard Chartered’s institutional map both point to near-term downside risk but diverge on how investors should frame it, with Bundy warning of a “massive drawdown” and Standard Chartered projecting a year-end BTC $100,000 target if risks abate.

“Reza Bundy, CEO of Atlas Capital, an investment advisory firm co-founded by economist Nouriel Roubini — widely known as ‘Dr”

Cryptonews.net

CoinDesk reported Bundy’s longer-term view as a range of $150,000 to $500,000, while CryptoRank said Standard Chartered still forecasts a year-end BTC $100,000 target (≈60% recovery) tied to whether ETF outflows, Fed signaling, and dominance metrics move in the expected direction.

CryptoRank described bitcoin as trading near its 200-week simple moving average and said previous bear markets ended around the same moving average, and it framed the next few weeks of ETF flow data, Fed signaling, and dominance metrics as the determinants of which scenario plays out.

Meanwhile, CoinDesk said Bundy planned to wait for his predicted stock-market correction to pass before deciding whether to include bitcoin, adding that he said, “We believe there will be a major stock market correction, and we don't want to be part of the bitcoin drawdown.”