Popular crypto analyst Tony Severino has shared a bold take on the current Bitcoin (BTC) market structure. The chartered market technician has stated that the Bitcoin bull market remains active unless the price falls below a specific level. Notably, Bitcoin saw a heavy correction after hitting a peak price of $109,000 in January. Over the last three months, the premier cryptocurrency has traded as low as $74,000, representing a devaluation of over 32.5%. Although there has been a notable price bounce in April, an ever-present market uncertainty means speculation remains abound on the viability of the present bull cycle. Related Reading: Bitcoin Dominance At Risk Of Crash To 40%, Why This Is Good For Ethereum, XRP, And Altcoins $49,000 As Key Price Level For Bitcoin – Here’s Why In an X post on April 18, Severino has identified the $49,000 price region as the make-or-break zone for the Bitcoin market. With the help of a weekly trading chart, Severino highlights that Bitcoin remains on an ascending trendline stretching as far back as Q3 2023. An ascending trendline represents a sustained uptrend in price action, typically confirmed by the formation of successive higher highs and higher lows. It typically demonstrates a persistent buying pressure and sufficient underlying demand, thus ensuring a prolonged price rally. Generally, the higher lows reflect the strength of an ascending trend. Therefore, any fall below the previous higher low undermines the bullish momentum and indicates a likely change in market sentiment. According to Severino’s chart, the last higher low on Bitcoin’s ascending trendline stands at $49,140. Therefore, this level represents a key support region, any price fall below which would invalidate the present bull run and signal a new market cycle. At the time of writing, Bitcoin remains in consolidation trading between $83,000 and $86,000 as seen over the past week. The market appears to be finding stability with accumulation now on the rise. Amid the US 90-day pause on new tariffs, the likelihood of a sharp downside catalyst is relatively low. However, the potential for a decisive price breakout remains uncertain, as broader market sentiment continues to face key resistance barriers at $86,000 and $91,000 price regions. Related Reading: Brace For Impact: Dogecoin May Plunge Before Skyrocketing 400%—Analyst Bitcoin Price Forecast At press time, Bitcoin is trading at $85,312, reflecting a price gain of 0.91% in 24 hours. Interestingly, the asset’s trading volume is up 19.77% and valued at $15.26 billion. According to price prediction firm Coincodex, market sentiment among investors is neutral. However, there remains a significant level of caution with the Fear & Greed Index standing at 37. In forecasting Bitcoin fortunes, Coincodex anticipates a full bullish market reversal with projections of $108,296 in five days and $111,236 in a month. Featured image from Adobe Stock, chart from Tradingview
As gold continues to set new all-time highs (ATH) – trading at $3,333 per ounce at the time of writing – Bitcoin (BTC) has seen more subdued price action, consolidating in the mid-$80,000 range. However, analysts suggest that the top digital asset may soon mirror gold’s recent momentum. Bitcoin Set To Follow Gold’s Momentum? In a recent post on X, crypto trading account Cryptollica hinted that BTC may be poised to replicate gold’s historic price movement seen over the past few months. The account shared the following chart, highlighting the striking similarities between the price actions of gold and BTC. The chart shows both gold and BTC forming a macro-bottom around early 2023, followed by a rejection at the range top in early 2024. Gold eventually broke out in the following months, while BTC lagged slightly, breaking out around November 2024. Related Reading: Bitcoin Undervalued? Analyst Breaks Down Bullish On-Chain Metrics According to Cryptollica, BTC now appears to be breaking out of a consolidatory wedge pattern, with a potential mid-term target as high as $155,000. Currently, Bitcoin’s ATH stands at $108,786, recorded earlier this year in January. BTC is also likely to benefit from several favorable macroeconomic trends. For example, the global M2 money supply is expected to increase in 2025, a development that typically supports risk-on assets like Bitcoin. BTC Maturing As A Safe Haven Asset Beyond technical chart patterns, BTC has demonstrated remarkable resilience amid escalating global tariff-induced uncertainty. According to the latest The Week On-Chain report, both gold and BTC have performed well during the ongoing tariff war. The report notes: Amidst this turmoil, the performance of hard assets remains remarkably impressive. Gold continues to surge higher, having reached a new ATH of $3,300, as investors flee to the traditional safe haven asset. Bitcoin sold off to $75k initially alongside risk assets, but has since recovered the week’s gains, trading back up to $85k, now flat since this burst of volatility. The report also mentions that BTC recently experienced its largest price correction of the 2023–25 cycle, a -33% drawdown from its ATH earlier this year. However, this correction remains relatively modest compared to those seen in previous market cycles. Related Reading: Bitcoin Weekly RSI Breakout Signals Trend Shift – Is $100,000 Next For BTC? The following chart illustrates BTC bull market correction drawdowns since 2011. As shown, the recent -33% correction is the shallowest among past cycles, with the deepest being -72% during the 2012–14 bull market. While BTC continues to show signs of maturing as a reliable asset during times of geopolitical uncertainty, institutional investors appear to be taking profits. This is evidenced by recent outflows from Bitcoin exchange-traded funds (ETFs). At press time, BTC is trading at $84,694, up 0.7% in the past 24 hours. Featured image from Unsplash, charts from X, Glassnode, and Tradingview.com
CryptoQuant CEO Ki Young Ju announced today that Bitcoin’s bull cycle “is over” and warned investors to brace for “6–12 months of bearish or sideways price action.” This development comes after the on-chain analytics veteran had previously urged caution but maintained a measured outlook on the market as recently as two weeks ago. Is The Bitcoin Bull Run Over? In a post shared today via X, Ki stated:“Bitcoin bull cycle is over, expecting 6–12 months of bearish or sideways price action.” Related Reading: Bitcoin To $10 Million? Experts Predict Explosive Growth By 2035 Along with the comment, the CEO highlighted the Bitcoin PnL Index Cyclical Signals—an index that aggregates multiple on-chain metrics, such as MVRV, SOPR, and NUPL, to pinpoint market tops, bottoms, and cyclical turning points in Bitcoin’s price. According to Ki, this indicator has historically offered reliable buy and sell signals. He further explained how an automated alert, previously sent to his subscribers, combined these metrics into a 365-day moving average. Once the trend in this 1-year moving average changes, it often signals a significant market inflection point. As proof, Ki also shared a chart: “This alert applies PCA to on-chain indicators like MVRV, SOPR, and NUPL to compute a 365-day moving average. This signal identifies inflection points where the trend of the 1-year moving average changes.” Ki pointed to drying liquidity and fresh selling pressure by “new whales” who, he said, are unloading Bitcoin at lower prices. Notably, he revealed that CryptoQuant users who subscribed to his alerts received this signal before today’s public announcement. “With fresh liquidity drying up, new whales are selling Bitcoin at lower prices. Cryptoquant users who subscribed to my alerts received this signal a few days ago. I assume they’ve already adjusted their positions, so I’m posting this now.” Related Reading: Bitcoin Whale Shorts $445 Million In BTC—Traders Plot Explosive Liquidation This latest declaration contrasts remarks from just four days ago, on March 14, when Ki struck a more cautious tone, stating: “Bitcoin demand seems stuck, but it’s too early to call it a bear market.” At that time, he shared a chart of the Bitcoin Apparent Demand (30-day sum) indicator, which had turned slightly negative—an early signal that demand might be tapering off. Although Ki pointed out that demand could still rebound (as it has in past sideways phases), he acknowledged the possibility of Bitcoin teetering on the edge of a bear market. The pivot in sentiment is especially notable given Ki’s stance from two weeks ago. In that earlier post, he opined that the “bull cycle is still intact,” crediting strong fundamentals and growing mining capacity: “There’s no significant on-chain activity, and key indicators are neutral, suggesting the bull cycle is still intact. Fundamentals remain strong, with more mining rigs coming online.” However, he also cautioned that the market could turn if sentiment did not improve, particularly in the United States. With today’s announcement, the warning has evidently crystallized. Reflecting on the potential downside scenario, Ki said at the time: “If the cycle ends here, it’s an outcome no one wanted—not old whales, mining companies, TradFi, or even Trump. (FYI, the market doesn’t care about retail.)” At press time, BTC traded at $83,059. Featured image created with DALL.E, chart from TradingView.com
Crypto analyst Master Ananda has asserted that the bottom is in for the Bitcoin price following its massive crash below $80,000 last week. In line with this, the analyst revealed what to expect next from the flagship crypto. Bitcoin Price Action Shows Bottom Is In In a TradingView post, Master Ananda claimed that the bottom is in based on the current Bitcoin price action. He stated that last week’s drop, touch-and-go, is the perfect bottom signal. The analyst further remarked that $78,300 can be taken as the bottom, which represents a 28% decline from BTC’s all-time high (ATH) of $109,000. Related Reading: Bitcoin Flag Pole Pattern Puts Price At $120,000, Analyst Explains The Roadmap Master Ananda also noted that this was a classic retrace, as there always is one after a strong bullish breakout. He explained that this classic retrace is good for the Bitcoin price because the flagship crypto will take its time to build up strength. The analyst added that taking time to grow is good, and is the only way it can work if BTC is to move higher in the long term. Meanwhile, as to what is next for the Bitcoin price, the crypto analyst stated that on average, daily price increases of $500 or $800 can reveal how long it will take to reach higher prices and higher levels in the coming months. Master Ananda then suggested that the flagship crypto could reach $200,000 next month. Master Ananada then advised market participants to buy and hold seeing as the low is in for the Bitcoin price. He added that the market is giving a second opportunity, as market participants have the chance to buy at relatively low prices. The crypto analyst also mentioned that BTC is in an accumulation phase and asserted that it will go up and continue to grow in the long-term. BTC Regaining Momentum Crypto analyst Titan of Crypto also affirmed that the Bitcoin price is regaining momentum. He noted that BTC has reacted strongly to the Kijun acting as support on the weekly chart. The analyst added that a weekly close above the Tenkan at around $94,000 would confirm a shift in momentum and reinforce the bullish case for the flagship crypto. Related Reading: Bitcoin Price At The End Of The Bull Market? Analyst Shows Where We Are In The Cycle Meanwhile, in another X post, the analyst asserted that the Bitcoin bull market is still on. He claimed that there was no bear market in sight according to the Supertrend indicator. As such, the analyst believes that it is not yet time to be bearish. His accompanying chart suggested that the Bitcoin price could still rally to above $200,000 before the bear market kicks in. At the time of writing, the Bitcoin price is trading at around $92,000, up over 5% in the last 24 hours, according to data from CoinMarketCap. Featured image from LinkedIn, chart from Tradingview.com
The trend in an on-chain indicator could suggest that the Bitcoin bull market is still on even after the latest volatile action in the asset’s price. Bitcoin Coinbase Flow Pulse Is Still Signaling A Bull Market In a new post on X, CryptoQuant author Axel Adler Jr has talked about the latest trend in the Coinbase Flow Pulse for Bitcoin. The “Coinbase Flow Pulse” here refers to an on-chain indicator that keeps track of the net amount of BTC that’s moving between Coinbase and other exchanges. When the value of this metric is positive, it means coins are flowing from wallets associated with other exchanges to those connected to Coinbase. On the other hand, the indicator being under zero implies Coinbase is going through outflows. Related Reading: Ethereum Could Crash To $1,700 If This Support Fails, Analyst Says Now, here is the chart for the Bitcoin Coinbase Flow Pulse shared by the analyst that shows the trend in its 30-day and 90-day simple moving averages (SMAs) over the last few years: As displayed in the above graph, the 30-day SMA of the Bitcoin Coinbase Flow Pulse surged above the 90-day a few months back and has since maintained its steep climb, creating distance between the two lines. Historically, this type of crossover has signaled a shift toward a bull market phase for Bitcoin. Clearly, BTC hasn’t seen the reverse type of crossover yet, so this signal could still be considered active. The 30-day MA crossing above the 90-day MA implies that inflows into Coinbase are gaining momentum. The reason this acts as a bullish signal for BTC is that the platform is primarily used by institutional entities based in the US. Whenever coins are flowing into Coinbase, it’s a sign that these American traders are interested in the cryptocurrency. As the analyst explains, Currently, a bullish phase prevails, driven by strong institutional interest. The absence of significant red zones indicates no large-scale outflows typically seen in a bear market when capital shifts from the spot market to futures. While a transfer of wealth from other exchanges to Coinbase is a positive sign for Bitcoin, exchange inflows that occur from self-custodial wallets can be a bearish sign instead. Fortunately, BTC doesn’t have to worry about this for now as the BTC Exchange Reserve, a metric that measures the total amount of the asset sitting on centralized exchanges, has plunged. Related Reading: Chainlink Witnesses Highest Whale Activity Since 2023, Price Reversal Coming? Here is a chart shared by an analyst in a CryptoQuant Quicktake post that shows the latest trend in the indicator: BTC Price Bitcoin had kicked the week off with some recovery to the $102,000 level, but the asset has since erased most of its gains as it’s now trading around $96,700. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Bitcoin has experienced a calm weekend, maintaining its momentum above the $100,000 mark after breaking this milestone on Wednesday and setting new highs. The crypto market is buzzing with anticipation as BTC consolidates near its historic levels, with traders and investors eagerly awaiting its next move. Related Reading: Ethereum To Hit 5 Figures Once It […]
Never has cryptocurrency been so connected with the US elections, the outcome of which could trigger a full-on bull market. What are the prospects if Trump wins?
Bitcoin has recently faced a 10% correction since last Friday, but it is now holding above a crucial support level that could pave the way for a price rally. Analysts and investors eagerly watch the market, hoping BTC will regain momentum. With the potential for increased demand on the horizon, many are sharing valuable insights […]
Bitcoin has remained above $60,000 for the past two weeks, holding strong as the broader crypto market bulges. This steady performance is fueling optimism among traders and investors alike. According to key data from CryptoQuant, short-term holders are now selling for profit, leading to a notable decrease in BTC supply. This reduction in available BTC […]
The metrics suggest that Bitcoin is unlikely to be overvalued at current levels and its price action is developing “steadily without significant anomalies or sharp jumps.”
After Monday’s market crash, concerns about the stability of Bitcoin’s bull run have emerged. Yet, Ki Young Ju, founder and CEO of CryptoQuant, a leading blockchain analytics firm, maintains a positive outlook. He suggests that, despite the recent crash, on-chain data continues to support the notion that the bull market for Bitcoin remains intact. Bitcoin On-Chain Analysis: Bullish Arguments #1 Bitcoin Hashrate The Bitcoin hashrate, which gauges the computational power utilized in mining and processing transactions, is nearing an all-time high (ATH). Ju notes, “Miner capitulation is nearly over, with hashrate nearing ATH. US mining costs are ~$43K per BTC, so hashrate likely stable unless prices dip below this.” #2 Whale Behavior Significant Bitcoin inflows into custody wallets are another argument to be bullish, indicating strong accumulation by large-scale investors, often referred to as ‘whales’. Ju highlights, “Significant BTC inflows into custody wallets. Permanent Holder addresses increased by 404K BTC, including 40K BTC in US spot ETFs over the last 30 days. New whales are accumulating.” Related Reading: Is Bitcoin Really Safe? New Insights from ‘Black Swan’ Author on Recent Crash #3 Retail Investor Participation The current subdued participation of retail investors is similar to patterns observed in mid-2020. Ju remarks, “Retail investors are mostly absent, similar to mid-2020.” This absence might contribute to less volatility, as retail trading often leads to rapid price swings. #4 Old Whales Still HODL Between March and June, long-term holders (those who have held for over three years) transferred their Bitcoin holdings to newer investors. Currently, there is no significant selling pressure from these veteran holders. Bearish On-Chain Data #1 Macro Risks On the downside, Ju points out macroeconomic risks and recent market activities that could impact Bitcoin’s price stability: “Macro risks could lead to forced sell-offs. There were large crypto deposits by Jump Trading recently, and Binance hit YTD high in daily deposits.” Related Reading: Bitwise CIO Believes The Crypto Crash Sets The Stage For Bitcoin To Thrive – Key Reasons Why #2 Borderline On-Chain Indicators While some on-chain indicators have recently turned bearish, these are borderline, according to Ju. He asserts, “Some on-chain indicators turned bearish but are borderline. If bearish trends persist for over two weeks, market recovery could be challenging.” #3 Bull-Bear Cycle Indicator Flags Bear Phase Notably, the Bull-Bear Market Cycle Indicator has also flagged a bear phase for the first time since January 2023 (high blue area in the chart), warranting close observation. CryptoQuant Head of Research Julio Moreno added that this indicator has previously identified limited bear phases during significant market events like the COVID sell-off in March 2020 and the Chinese mining ban in May 2021. Moreover, it also correctly anticipated the start of the bear market in November 2021. Despite these bearish undercurrents, Ju remains cautiously optimistic about the potential of Bitcoin to reach a new all-time high until the end of the year. “As long as the Bitcoin price stays above $45K, it could break its all-time high again within a year, imo. Some indicators are showing bearish signals. However, they could still recover with a rebound, so we need to watch if it stays at this level for a week or two. If it lingers longer, the risk of a bear market grows, and recovery may be difficult if it lasts over a month,” Ju concludes. At press time, BTC traded at $56,639. Featured image created with DALL.E, chart from TradingView.com
Based on on-chain data, the Head of Research at the analytics firm CryptoQuant has explained how Bitcoin has been looking less bullish recently. Bitcoin Bull-Bear Market Cycle Indicator Has Seen A Decline Recently In a new post on X, CryptoQuant Head of Research Julio Moreno shared what the latest trend in the Bitcoin Bull-Bear Market […]
Amidst the recent Bitcoin pullback from its previous all-time high above $73,000, Ki Young Ju, the founder and Chief Executive Officer (CEO) of Crypto Quant, reassures the broader crypto community that the BTC bull market is far from over. Bitcoin Bulls Are Not Done In a recent X (formerly Twitter) post, Ju expressed strong bullish sentiment regarding Bitcoin, highlighting factors that suggest that Bitcoin’s upward trajectory is likely to continue. The Crypto Quant CEO shared a crucial indicator depicted in a price chart, showcasing the percentage of Realized Cap across four age bands for BTC. Related Reading: Top 3 Solana Meme Coins To Buy Amid The Bitcoin Crash That Could 10x According to data from the price chart, the observed trends from the Realized Cap of four age bands from 6 months to three years indicate a positive outlook for BTC in 2024. Additionally, the CEO has stated that the primary catalyst behind Bitcoin’s rise to new all-time highs is the success of the Spot Bitcoin ETF, rather than the upcoming Bitcoin halving event in April. After the introduction of Spot Bitcoin ETFs, BitcoBTCin embarked on an exponential rally, reaching heights not witnessed since its previous bull run in 2021. The cryptocurrency rose to record highs, surpassing $73,000 previously, but experienced a major pullback of about 8.33% over the past week. At the time of writing, Bitcoin’s price is below $70,000, trading at $67,225, according to CoinMarketCap. Ju has revealed possibilities for even more declines, predicting a potential price drop of 50% for the cryptocurrency if a maximum drawdown of 30% occurs. The CEO has stated that for this event to happen, new whales, particularly ETF buyers, will have to enter the Bitcoin market at $56,000 on average. While this outlook may seem bleak, the Crypto Quant founder has also expressed strong belief in the continuation of the BTC bull market, contingent upon the sustained momentum of ETF inflows. Retail Investors Still Making Their Way Into The Market Reinforcing his belief that “Bitcoin is still in the middle of the bull cycle,” Ju asserts that the cryptocurrency’s cyclic top has not yet been breached. The CEO suggested that more price upswings were still set for Bitcoin, as retail investors have not fully entered the market yet. Related Reading: Shiba Inu Sees A Shift: Short Term Holders Take Possession Of 23 Trillion SHIB According to the Crypto Quant founder, only 50% of retail investors have entered the market, indicating the halfway point towards “Bitcoin euphoria”. This suggests that if more retail investors flood the market, BTC could potentially rise to new peaks, driven by increased demand and capital inflows. Echoing Ju’s convictions about Bitcoin’s long-term price increase, Bitcoin analyst Willy Woo encourages investors to embrace the dip during the present consolidation phase. The analyst confidently asserts that “this is not the top,” but rather a simple period of consolidation reminiscent of previous all-time highs. BTC bulls begin to reclaim control | Source: BTCUSD on Tradingview.com Featured image from Decrypt, chart from Tradingview.com
A market indicator is flashing that Bitcoin is now firmly in a “high risk” zone — a sign it could be in the early stages of a bull market, says Glassnode.