By Alberto Pinero
The Catalans currently sit one point behind the Rojiblancos, whom they drew 1-1 with in their Champions League quarter-final first-leg on Tuesday, in the Spanish top tier with seven games to go.
Real Madrid held the upper hand until back-to-back losses towards the end of March saw them drop to third in the title race and the Argentine attacker suggested the defeat to Barca in particular could cost Carlo Ancelotti's men.
"Real Madrid came into the Clasico better than Barcelona and lost," Crespo told Goal. "I don't have enough courage to bet against Lionel Messi in the title race."
The ex-Inter and Chelsea forward also mused that Madrid, Barca and Bayern Munich are joint-favourites for European glory this campaign, expressing that such massive clubs will always have the psychological advantage.
"Except when they face each other, Real Madrid and Barcelona are always the favourites against their rivals," Crespo continued. "In this case, Borussia Dortmund and Atletico in the quarter-finals of the Champions League. It is always so!
"The future of Barcelona depends on Madrid battles, what with that passed Clasico against Real and the tie against Atletico on the final day of the season.
"Madrid and Barcelona are the favourites to win the Champions League alongside holders Bayern Munich. These are the three formations that will win it as they are the strongest of all the remaining teams."
Bayern were held to a 1-1 draw at Manchester United in their first-leg quarter-final on Tuesday, while Real Madrid host the opening tie of their clash with Dortmund on Wednesday before the return legs take place next week.