Traders Warn the End of the Bitcoin Bull Market is Near as Prices Dive
A recent decline in Bitcoin prices suggests a potential end to the current bull run, with risks of a significant correction looming.
Bitcoin recently dipped below crucial support levels, a move interpreted by traders as a potential signal that the anticipated bull market for 2025 may be concluding. With a bear market target set at $52,000, analysts suggest a significant price correction could be imminent.
Key Insights:
- Market analysts predict the conclusion of the Bitcoin bull run is approaching.
- Bitcoin (BTC) fell to $103,500, causing over $916 million in leveraged positions to be liquidated, dampening market confidence.
Despite ongoing bearish momentum, some traders question whether this truly signifies the end of the bull run.
Prediction of the Bull Run’s Conclusion
Traders are forecasting that Bitcoin still has a limited window for price growth, specifically by analyzing historical patterns. One trader, CryptoBird, stated, “The Bitcoin bull run ends in 10 days” based on past cycles. He further elaborated that the ongoing pullback fits typical pre-peak behavior, indicating a classic phase of market sentiment adjustment.
BTC/USD chart
BTC/USD chart Source: CryptoBird
Possible Price Drop to $50,000
The drop below important support levels, such as the 200-day simple moving average, suggests significant vulnerabilities within the market, leading to fears of deeper corrections. Analyst Daan Crypto Trades highlighted that Bitcoin is currently testing the 0.786 Fibonacci retracement level, with serious implications should this level fail.
“Touching grass if bulls can’t manage to hold this level this week.” - Daan Crypto Trades
BTC/USD daily chart
BTC/USD daily chart Source: Daan Crypto Trades
Traders are exhibiting caution in light of the Bitcoin Fear and Greed Index hitting a yearly low of 22, which represents extreme fear among investors. This situation might serve as a ’launchpad’ for a final rally before the market heads downward.
Conclusion
The final movements in the Bitcoin market could see steep adjustments, thus signaling to investors the necessity for due diligence and caution amidst fluctuating prices.
This article does not serve as investment advice; all trading involves risks and investments should be informed by extensive research.
