Amid ongoing volatility in the cryptocurrency market, Bitcoin maintains its position, but analysts warn of potential constraints on new growth.
Overview of Bitcoin's Current Status
Bitcoin (BTC) demonstrates a strong long-term trend; however, crypto analysts express concern over possible limitations for new growth within the four-year cycle. Currently, the price of Bitcoin is $109,760, just 2% below its all-time high of $111,970.
Analysts' Models and Predictions
Popular analyst TradingShot explained that a new significant rally might be constrained by Bitcoin's position within a long-term uptrend. The analyst noted that Bitcoin is trading within an uptrend channel that aligns with Fibonacci, tracking price movements since 2013. In previous cycles, such as 2017 and 2021, breakouts above certain zones triggered parabolic rallies. However, there has been no such breakout in the current cycle, raising questions about the potential for a new rally.
Traders' Positions and Expectations
Despite Bitcoin continuing to test resistance at $110,000, many traders are confident in the potential for further expansion in 2025. Some analysts suggest that the current price consolidation could signal the next growth phase, indicating that the timeframe for the rally may be limited, with a peak price potentially reached in October after the 2024 downturn.
Thus, despite existing concerns about growth timelines, Bitcoin continues to hold its positions. Traders’ expectations and models for future movements remain high, creating a basis for active monitoring of price dynamics.
