Bitcoin’s legendary bull run is still on track, despite the current market jitters. Crypto analysts are saying this dip is just a “shakeout,” a temporary blip before the next big surge.
Bitcoin (BTC) has taken a 22% hit from its all-time high of over $109,000, reached on January 20, the day of Donald Trump’s inauguration. But don’t let that scare you. Historical patterns suggest this is just a price shakeout—a quick drop followed by a rebound.
Bitfinex analysts note some technical indicators have turned bearish, sparking fears that the bull cycle might be ending early. But they argue that Bitcoin’s 4-year cycle is still a major player in shaping price movements. Corrections like these are normal, and history suggests this is just a bump in the road, not the start of a bear market.
The launch of US spot Bitcoin ETFs, which briefly surpassed $125 billion in holdings, along with rising institutional investments, signals that the traditional cycle might be evolving. Yet, Bitcoin’s recent daily close above $84,000 on March 15 is a positive sign, hinting at potential upward momentum.
However, Bitcoin’s fate is tied to traditional financial markets. The S&P 500 and global economic trends will likely influence BTC’s next big move. Analysts highlight the $72,000–$73,000 range as crucial support, but broader market narratives will dictate Bitcoin’s trajectory.
Despite concerns about a disrupted bull market, the four-year cycle and Bitcoin halving events remain pivotal for price action. Iliya Kalchev from Nexo emphasizes that while institutional adoption has been a tailwind, halving events will continue to exert long-term influence.
The 2024 Bitcoin halving slashed block rewards to 3.125 BTC per block. Since then, Bitcoin’s price has climbed over 31%, fueled by growing institutional interest and what some call the “most bullish” setup for Bitcoin yet.
In conclusion, while the market may seem shaky now, history and key events like the halving suggest Bitcoin’s bull run is far from over. Stay tuned for the next chapter in this crypto saga!
