Prominent market strategist Jordi Visser says the crypto market may be approaching its most explosive macro growth phase, based on Elliott Wave theory. The technical framework, which maps recurring investor psychology into five upward waves followed by three corrective waves, is often used to identify the healthiest stages of a bull market.
Visser emphasized that the third wave in the Elliott sequence is typically the strongest and most dramatic. That phase is characterized by widespread skepticism at its start, followed by rapid mass participation that drives accelerated, often parabolic price gains — the period when many investors see the biggest returns.
Drawing a parallel to the parabolic run in semiconductor stocks, Visser argues that cryptocurrencies are entering this same stage. If the pattern plays out, he believes Bitcoin and the broader market could far exceed conventional price expectations once the third wave gains momentum.
That bullish long-term view, however, contrasts with current market conditions. CoinMarketCap data show the total crypto market capitalization fell about 3.1% over the past 24 hours, with Bitcoin down roughly 3.24% to $74,716.50. The pullback appears tied in part to a regulatory setback after the U.S. Securities and Exchange Commission delayed rules on tokenized equities.
Institutional flows have also been weak: more than $1.2 billion exited spot Bitcoin ETFs across six consecutive sessions, helping trigger roughly $377 million in long-position liquidations. Technically, strategists note Bitcoin needs to hold the $73,786 support level to stabilize near $75,949; a breakdown below that could push prices toward $72,000 and put about $1.29 billion in leveraged long bets at risk.
Ethereum underperformed the market in the same period, sliding about 4.22% to $2,031.22. Sentiment was dented by high-profile institutional and insider exits, including sales by Harvard’s endowment and Bankless co-founder David Hoffman.
Broader pressures — geopolitical tensions, hawkish comments from Federal Reserve officials, and a wave of leveraged liquidations — have accelerated the decline. For Ethereum, holding the $2,000 psychological level would leave room for a relief bounce toward $2,150; a decisive close below that floor, though, could open the door to a deeper correction into the $1,900–$1,600 range.
In sum, Visser’s Elliott Wave–based outlook is intensely bullish over the long term, but near-term volatility and regulatory or liquidity-driven shocks could produce sharp pullbacks before any sustained third-wave acceleration materializes.