Bitcoin (BTC) may be on the edge of a significant market move, as a crypto analyst warns that failure to reach an all-time high in the coming weeks could trigger a sharp correction. While long-term bullish sentiment remains strong, the immediate outlook hinges on whether BTC can maintain an upward momentum and avoid a damaging setback that could derail or further stall its current rally. Bitcoin Faces 50% Crash ThreatA prominent crypto analyst, Tony Severino, has issued a stark warning to Bitcoin investors on X social media. He cautions that a failure to break a new all-time high soon could spark a massive price crash—potentially wiping out over 50% of BTC’s current value. In his shared Elliott Wave chart analysis, Severino highlights Bitcoin’s current position within what appears to be an intermediate Wave 4 Expanded Flat correction. According to the structure, Bitcoin may be nearing the end of wave B, which typically precedes a steep drop in wave C. Severino’s analysis draws parallels between BTC’s current price behavior and the 2021-2022 expanded flat correction that defined Primary Wave 4. At the time, Bitcoin peaked in wave B before cascading into wave C, resulting in a brutal bear market. A similar pattern appears to be developing in BTC’s current chart structure. The chart highlights that the recent surge in the cryptocurrency’s price could be forming a deceptive wave B peak, which may soon reverse into a wave C crash targeting the $60,000 region or lower. A decline to this level would represent a 50% drawdown from current levels, near $118,000.Notably, Severino’s warning does not stem from a bearish conviction but rather from cautious optimism. While he maintains a strong bullish long-term outlook and believes Bitcoin still has a final Wave 5 rally ahead, the analyst emphasizes the need for BTC to break out into a new ATH soon to invalidate the expanded flat scenario.Should the market fail to deliver this upside move, the corrective structure could dominate and significantly delay the next upward impulse leg. A potential crash could also severely disrupt the long-anticipated altcoin season, stalling momentum across the broader crypto market.Analyst Sets Bitcoin’s Next ATH TargetBitcoin has ignited fresh optimism over the past week following its latest price surge above $123,000. Despite pulling back to its current price above $118,000, a market expert identified as ‘The Crypto Professor’ on X predicts that the flagship cryptocurrency is gearing up for a fresh all-time high. The Crypto Professor has set Bitcoin’s next ATH target at $129,948, coinciding with the 1.618 Fibonacci Extension level. With BTC now trading at $118,612, this would represent a solid 9.6% price gain. Notably, the analyst’s chart shows previous consolidation zones around the $110,000 and $100,000 region, matching the Fibonacci Retracement levels of 1 and 0.786. These levels now serve as potential support zones in the event of a retest.