Bitcoin (BTC) Market Analysts Monitor Potential for Further Price Increases and the Possibility of New ATHs

As Bitcoin (BTC) consolidates above the significant $100,000 milestone, previously a challenging resistance level to breach, market analysts are closely

Bitcoin price finally breached the significant $100,000 milestone on Monday, encountering resistance at this level throughout the past few weeks.

As BTC consolidates above this critical threshold, market analysts are keeping a close watch on its potential for further price increases and the possibility of setting new all-time highs (ATHs). However, some experts are also warning of an impending bear market that could emerge within just three months.

Bitcoin price movements are being closely monitored by both retail and institutional investors alike. After Bitcoin Halving, which occurred in April 2024, and the subsequent rally that followed, many anticipated a bear market to set in by the end of 2024. However, Bitcoin’s resilience and the strength of the bull market have pushed back these expectations.

Now, as Bitcoin price stalls after setting a new ATH at $105,000, some analysts are predicting that a bear market could begin as early as March 2025. This prediction is based on historical patterns observed following Bitcoin's Halving events.

One analyst, known as Ali Martinez, recently raised concerns in a social media post on X (formerly Twitter), suggesting that the market may be setting up for a top.

As seen in the chart above, the analyst suggests that Bitcoin and the broader cryptocurrency market could enter a bear cycle approximately 90 days from now. This prediction is based on the cyclical nature of Bitcoin’s price movements, particularly during Halving years, which historically have been followed by significant corrections.

As further seen in the chart above, Martinez points out that examining the total days of each BTC Halving cycle reveals a striking resemblance to the previous cycle between 2012 and 2016, which lasted 367 days before entering a bear market. As of now, Bitcoin and the broader cryptocurrency market is at 276 days into this cycle, suggesting that a downturn may be closer than some investors anticipate.

Bitcoin Price Could Rally To $200,000 Before A Drop To $100,000

Further analysis from Martinez incorporates the Wyckoff Method, a technical analysis framework that identifies market cycles. According to this method, Bitcoin may be approaching its final leg up before entering the Distribution Phase, a period of consolidation before a price decline.

In this phase, Ali Martinez predicts that the BTC price could trade between $140,000 and $200,000 before experiencing a significant drop back toward the $100,000 level. But despite these cautionary forecasts, Martinez also notes that there remains potential for growth in the short term.

He draws comparisons to the 2015-2018 cycle, asserting that Bitcoin’s price action at this juncture shares striking similarities with that period, which eventually led to parabolic price increases.

Additionally, the Mayer Multiple, a metric that gauges Bitcoin’s overbought conditions, is currently being scrutinized. Historically, the Mayer Multiple has indicated market tops when Bitcoin trades above the 2.4 oscillator. Presently, this level sits near $182,000, suggesting that Bitcoin still has potential for growth before reaching a potential market peak this cycle.

At the time of writing, the largest cryptocurrency by market cap is trading at $102,900, down over 1.5% in the 24-hour time frame.