Bitcoin (BTC) hit a new all-time high of nearly $126,000 recently, marking a continued upswing in its price. However, a notable market analyst has cautioned that the current bullish phase might only have a couple of weeks remaining, suggesting investors should act quickly to realize profits before a decline may follow.

A Final Push to New Highs

On-chain analyst Gigi Sulivan indicated that the typical cyclical behavior of Bitcoin implies a peak in the bull market could occur around October 20. This estimation arises from the planned halving event in April 2024, which corresponds with previous cycles lasting about 546 days.

“Whether you want to believe it or not, seeing another increase towards all-time highs, the next two weeks are likely your optimal chance to secure profits and then wait for a year for opportunities to buy back at lower rates during a bear market phase,” Sulivan warned.

Despite Bitcoin’s upward trend, the envisioned heights of $150,000 to $200,000 seem less likely with so little time remaining.

“I expect the Fear and Greed Index to exceed 80, similar to the behavior observed during the conclusion of the last bull cycle in November 2021,” they noted. “This should be viewed as a robust sell indicator, especially with nearly all supply profitably positioned.”

Additional analysis reveals that a significant withdrawal of $4 billion in stablecoins from exchanges has occurred since September 22, largely credited to Binance, suggesting many investors are cashing out, leading to reduced liquidity in the market.

Moreover, there are predictions suggesting that Bitcoin could still surge to between $160,000 and $170,000 by the end of 2025, based on patterns that show room for further growth.

Current Price Action

At the time of writing, Bitcoin is trading at $123,648, experiencing a 1.1% decline over the past day, though it remains up 10.6% within the week, significantly higher than its levels a month ago, and nearly double its value from last year.

Recent reports also indicate that each halving cycle of Bitcoin has historically led to diminishing returns. Studies reveal the 2017 surge yielded the highest returns at 29 times the initial investment, conversely, the 2021 run yielded the smallest returns at 6.7 times the invested amount. The market appears to be gearing down, even as it breaks new records.