Despite Bitcoin’s ongoing slump, analysts remain optimistic in the long-term, predicting a prolonged consolidation in the short-term.
By Parth Dubey
Updated
2 mins read
Bitcoin BTC $83 872 24h volatility: 0.2% Market cap: $1.67 T Vol. 24h: $17.27 B is currently trading around $84,000, around 23% below its all-time high of $109,114, achieved in January 2025. This correction has fueled speculation that the crypto market may be slipping into a bear phase. However, seasoned analysts have pointed on-chain metrics that suggest otherwise.
The bearish sentiment gained traction recently when CryptoQuant CEO Ki Young Ju claimed on X that the Bitcoin bull cycle might be over. He predicted 6-12 months of sideways or bearish price action, citing a lack of fresh liquidity and increased whale selling.
However, in the latest X post, Ju clarified that he did not foresee a major crash but rather an extended consolidation period.
According to CryptoQuant founder, new liquidity channels and reduced contagion risks make a -70% drop unlikely. Instead, he expects a wide-range sideways movement, presenting both shorting and buying opportunities.
Ju also argued that many retail investors are investing Bitcoin ETFs, which doesn’t reflect directly on on-chain metrics.
Around 80% of spot ETF inflows are reportedly retail-driven. Ju suggested that once macroeconomic conditions improve, such as interest rate cuts, fresh liquidity could trigger a new buying wave.
Popular crypto analyst Merlijn holds an even more bullish outlook. He recently stated that Bitcoin is significantly undervalued.
According to him, based on previous cycles, BTC should be trading around $250,000 at this stage. This implies that the largest price surge could still be ahead.
In a separate X post, Merlijn noted that BTC recently bounced off the 50-week Exponential Moving Average with a perfect bullish cross on the Stochastic RSI. Historically, such patterns led to parabolic price moves.
Despite the long-term bullish optimism, analysts predict potential pullback in the short-term. Technical analyst Aksel Kibar recently warned of a BTC price drop to $73,700, a key support level.
He suggested that Bitcoin’s reaction at this level will be crucial in determining its trajectory for the next few months.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
A crypto journalist with over 5 years of experience in the industry, Parth has worked with major media outlets in the crypto and finance world, gathering experience and expertise in the space after surviving bear and bull markets over the years. Parth is also an author of 4 self-published books.