Bitcoin (BTC) has faced significant challenges recently, with the Bitcoin price struggling to maintain momentum. Despite this, leading crypto analysts such as BitQuant and Kevin Capital believe the market has not yet reached its peak. These analysts argue that Bitcoin’s price structure indicates further upside potential, even as fears of corrections linger.
In the past three months, Bitcoin has oscillated between $81,000 and $85,000, triggering concerns that the top may already be in. However, crypto analyst BitQuant has pushed back against this bearish sentiment, asserting that the top is not yet in and that a bullish reversal may be imminent.
Analysts Predict Bitcoin Has Not Peaked Yet
BitQuant, a prominent crypto analyst, recently took to X (formerly Twitter) to assure market participants that Bitcoin’s price struggles do not signal a market top. He pointed out that during the previous bull cycle, many believed that $60,000 was the top, even though the price eventually surged higher.
BitQuant stressed that the current market lacks the classic “top” structure seen in previous cycles. According to him, when the real top is reached, a significant 25% pullback will follow. Until then, BitQuant remains bullish, emphasizing that Bitcoin’s current correction phase is part of a healthy market cycle.
Similarly, Kevin Capital echoed BitQuant’s sentiment, acknowledging that Bitcoin is undergoing a major correction but maintaining that the top has not been reached. He advised investors to monitor macroeconomic data and monetary policy updates, which could influence Bitcoin’s price trajectory.
Bitcoin Price Correction Could Drop to $70,000
While analysts remain optimistic about Bitcoin’s long-term potential, they also acknowledge the possibility of further short-term corrections. Kevin Capital recently predicted that Bitcoin’s price could drop as low as $70,000 if it loses the critical support at $81,000.
He explained that if Bitcoin breaches the “golden pocket” level and continues downward, the next measured move target falls within the $70,000 to $73,000 range. However, Kevin Capital remains confident that this correction would be temporary, paving the way for a significant price rebound.
Key Macro Factors Impacting Bitcoin Price
Several macroeconomic events could impact Bitcoin’s price movements in the coming weeks. One major factor is former President Donald Trump’s tariff implementation set for April 2nd. Analysts believe this event could trigger a “buy-the-news” reaction, potentially boosting Bitcoin’s price.
Additionally, labor market data expected later this week and a significant reduction in the U.S. Treasury run-off—dropping from $25 billion to $5 billion—could influence market sentiment. However, Kevin Capital cautioned that it remains uncertain whether these macro factors will have an immediate impact on Bitcoin’s price.
Bitcoin’s Long-Term Outlook Remains Strong
Despite the ongoing Bitcoin price struggles, many analysts maintain a bullish outlook for the cryptocurrency’s long-term trajectory. BitQuant and Kevin Capital both highlighted that Bitcoin’s price gains often occur in short bursts, with significant surges typically concentrated within a two-week period each year.
This pattern suggests that, despite temporary corrections, Bitcoin may be poised for another upward leg. Some analysts have even predicted that Bitcoin could reach as high as $130,000 by the end of this bull cycle, citing increased institutional adoption and growing demand for digital assets.
Conclusion: Bitcoin Price Struggles Could Lead to a Bullish Reversal
As Bitcoin price struggles persist, analysts like BitQuant and Kevin Capital remain optimistic that the top is not yet in. While short-term corrections may push Bitcoin down to $70,000, the broader market structure suggests a potential bullish reversal.
Investors should remain vigilant, closely monitoring macroeconomic factors and market developments as Bitcoin navigates its current correction phase. With projections of Bitcoin reaching $130,000 still on the table, this could be a strategic opportunity for long-term investors to accumulate more BTC.
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