Bitcoin’s recent price fluctuations have sparked concerns among investors about a potential downturn, but several market analysts argue that a deeper correction could be beneficial in the long run. According to crypto trader Jackis, the current price movement is part of a macroeconomic range for 2025, and even a decline to $70,000 would not resemble prior bear markets.
Market Analysis and Trends
Unlike the bear markets of 2022 or early 2024, the current drawdown lacks systemic macro-driven risk-off pressure, instead reflecting a rotation of supply from early holders to institutional participants. Market analyst Jelle highlighted a potential bullish divergence forming on Bitcoin’s three-day chart, which could coincide with a local bottom once momentum stabilizes. The previous three-day divergences in this cycle have also coincided with local bottoms, although Jelle noted that confirmation requires additional time and consolidation.
Julien Bittel, the head of macro research at Global Macro Investor, reinforced this view by pointing to Bitcoin’s historical behavior following oversold RSI readings below 30. According to data, Bitcoin tends to track a well-defined recovery path after such conditions emerge. While short-term volatility remains likely, Bittel argued that bases often take time to form and are usually accompanied by choppy price action before a sustained uptrend resumes.
Long-term Market Cycles and Projections
Jurrien Timmer, the director of Global Macro at Fidelity, placed the current phase within a broader wave structure spanning 2022 to 2025, which has already delivered a 105% compound annual growth rate (CAGR) over 145 weeks. Timmer acknowledged that Bitcoin may still experience a deeper correction into the $65,000 to $75,000 range in 2026 but emphasized that such zones have acted as strong buy zones. Looking further ahead, Timmer expects future cycles to evolve with flatter slopes as adoption matures, with a potential path toward $300,000 by 2029 if a new expansion phase emerges.
In this context, corrective phases may serve as the foundation for Bitcoin’s next structural advancement. As the market continues to evolve, it is essential for investors to conduct their own research and consider multiple perspectives before making any investment decisions. For more information, visit the original source: https://cointelegraph.com/news/bitcoin-dollar70k-flush-would-reset-cycle-not-confirm-new-bear-market-analyst
