Bitcoin's inability to break through higher resistance levels could lead to a "double-top price pattern" and a potential drop to $50,000, warns Markus Thielen, founder of 10x Research. This pattern forms when the price hits two similar peaks with a slight dip in between, and typically resolves when the price breaks below the "neckline". Thielen also notes that despite potential positive impacts from the U.S. elections and the Consumer Price Index later this year, Bitcoin could still face a "steeper correction". Other crypto traders speculate that Bitcoin's price action is still playing out similarly to the 2016 halving cycle, suggesting potential for further upward movement in the short term.