Keynote
Bitcoin is trading at $84,000, down 23% from its peak in January 2025. KiYoung Ju expects a long-term integration phase rather than a major crash. AnalystMerlijn believes BTC is heavily undervalued and could surge to $250,000.
Bitcoin
BTC
$84 004
24-hour volatility:
0.8%
Market Cap:
$1.67 t
Vol. 24H:
$15.64 b
It currently trades around $84,000, about 23% below the all-time high of $109,114 achieved in January 2025. The revision prompted speculation that the crypto market could be in the bear stage. However, veteran analysts point to indicators on the chain that suggest that this is not the case.
Bearish sentiment recently gained traction when Kryptoquant CEO Ki Young Ju claimed that Bitcoin Bull Cycle is over with X. He predicted 6-12 months of sideways or bearish price action, citing a lack of fresh liquidity and increased whale sales.
However, in the latest X-post, Ju revealed that he didn’t expect a major crash, but extended the integration period.
According to the founders of Cryptoquant, a -70% drop is unlikely due to new liquidity channels and reduced risk of infection. Instead, he expects a wide range of lateral movements, presenting both short circuits and opportunities for purchase.
JU also claimed that many retail investors are investing in Bitcoin ETFs, which is not reflected directly in on-chain metrics.
Approximately 80% of spot ETF inflows are reportedly retail-driven. JU suggested that fresh liquidity could trigger a new wave of purchases when macroeconomic conditions such as interest rate reductions improve.
Bitcoin is badly underrated
Popular cryptography analyst Merlijn has even more bullish outlook. He recently said that Bitcoin is being significantly undervalued.
He said that based on the previous cycle, BTC will have to trade around $250,000 at this stage. This means the biggest price surge may still be ahead.
In another X-post, Merlijn noted that BTC recently bounced its 50-week exponential moving average with a full bullish cross on stochastic RSI. Historically, such patterns have led to parabolic price movements.
On the daily BTC price chart, Bitcoin is trading near the middle Bollinger band (20-day SMA) of around $85,061, suggesting a phase of integration. The upper and lower bands are slightly expanded, which can increase volatility.
A break above $92,155 (upper band) could indicate a bullish breakout.
Meanwhile, the 14-day RSI was 45.6, indicating neutral momentum but approaching unsold territory. Further declines in RSI could indicate a purchase opportunity.
Despite long-term bullish optimism, analysts are predicting potential pulls in the short term. Technical analyst Aksel Kibar recently warned that BTC prices have fallen to $73,700, a major level of support.
He suggested that Bitcoin’s response at this level is important in determining its trajectory for the coming months.
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Disclaimer: Coinspeaker is committed to providing fair and transparent reporting. This article is intended to provide accurate and timely information, but should not be considered financial or investment advice. Market conditions can change quickly, so we recommend that you review your information yourself and consult with an expert before making a decision based on this content.
A crypto journalist with over five years of experience in the industry, Perth has worked with leading media outlets in the Crypto and Finance world, gathering experience and expertise in this field after surviving the bear and bull market for many years. Perth is also the author of four self-published books.
Parth Dubey on LinkedIn
