Despite Fears of a Market Downturn, Bitcoin (BTC) Is Entering Bull Market Stage Two

Bitcoin (BTC) is currently in the midst of a bullish phase, according to popular analyst Inmortal. Despite widespread fears of a market downturn

Popular analyst Inmortal says that Bitcoin (BTC) is now in a bullish phase despite widespread fears of a market downturn.

The pseudonymous analyst is optimistic about Bitcoin’s future, especially as the cryptocurrency seems to be entering the second stage of a two-stage bull market.

Bitcoin’s Bull Market Stage Two

Inmortal, who follows 231,200 people on X, used to be known for his ironic takes on the crypto market. However, the analyst has grown increasingly serious in his analysis, especially as he believes that Bitcoin’s historical patterns indicate a two-stage bull market.

In his latest update, the analyst says that Bitcoin is poised to see significant price movements as it enters the second stage of its current bull market, which, according to his predictions, could extend through the remainder of 2025.

Sharing a chart of Bitcoin’s potential price trajectory, Inmortal illustrates a wide trading range between $90,000 and $76,000 over the next few months. Bitcoin is expected to trade sideways until mid-year, as it consolidates before surging toward a new all-time high. The analyst forecasts that BTC could eventually reach around $140,000 as the second stage of the bull market progresses.

At the time of writing, Bitcoin is trading at approximately $83,994, remaining well within the range Inmortal suggested for the short term.

Ethereum’s RSI Indicates Potential Surge

Meanwhile, Inmortal also highlighted another key asset to watch in the coming months: Ethereum (ETH).

According to the analyst, Ethereum’s native token could see significant rallies, especially as its Relative Strength Index (RSI) indicator recently dropped to oversold territory on the three-day chart.

The RSI, a momentum indicator, measures the buying or selling pressure of an asset. Readings above 70 indicate overbought conditions, while values below 30 suggest that an asset is oversold. When Ethereum’s RSI plunged to around 25 earlier this month, Ethereum’s price dropped to a 2025 low of $1,754.

Now trading at $1,987, ETH appears to be poised for a reversal, with the RSI suggesting that the cryptocurrency may be due for a surge. Throughout history, when the RSI for Ethereum reaches nearly 20 on the three-day chart, it has typically marked a major bottom before initiating a strong upward price movement.

Market Outlook

Bitcoin’s price action over the next few months is expected to remain volatile as it tests lower and upper resistance levels within the $76,000-$90,000 range. However, the eventual breakout predicted by Inmortal suggests a sharp upward surge, potentially pushing Bitcoin to new all-time highs around $140,000.

Similarly, Ethereum’s RSI suggests that the asset is currently undervalued, indicating a possible surge as it enters a new phase of upward momentum. Investors should monitor both Bitcoin and Ethereum for potential entry points, especially as the RSI indicators suggest that both assets are nearing critical reversal points.