BITCOIN'S BULL MARKET PEAK PREDICTED AT $100K

Analyst Predicts Bitcoin's Bull Market Peak at $100K Followed by a Bearish Correction to $25K

BITCOIN'S NEXT BULL MARKET CYCLE

Bitcoin's next bull market could peak at $95K-$100K by early 2025, according to Elliott Wave theory projections.

ELLIOTT WAVE CYCLE POINTS TO BULL MARKET PEAK

The analyst's forecast relies on the application of Elliott Wave theory, which is commonly used to predict market cycles. In this scenario, the current market position is seen as the fourth wave of a five-wave cycle.

BEAR MARKET EXPECTED AFTER REACHING CYCLE TOP

After achieving the anticipated peak, the analyst predicts a transition into a bear market. This phase is expected to unfold through an A-B-C correction pattern, where Bitcoin's price could bottom out between $23,000 and $25,000.

SHORT-TERM OUTLOOK HIGHLIGHTS BEARISH SENTIMENT

At press time, Bitcoin was trading at $58,250, showing a slight downward trend. The price is struggling to hold above key Fibonacci retracement levels, with the 61.8% retracement at $62,024.28 acting as a notable resistance point.

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