{"id":658322,"date":"2024-12-06T15:30:15","date_gmt":"2024-12-06T15:30:15","guid":{"rendered":"https:\/\/ktsl888.com\/?p=658322"},"modified":"2024-12-06T09:19:50","modified_gmt":"2024-12-06T09:19:50","slug":"has-bitcoin-reached-its-cycle-top-insights-from-leading-analysts","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/has-bitcoin-reached-its-cycle-top-insights-from-leading-analysts\/","title":{"rendered":"Has Bitcoin Reached Its Cycle Top? Insights From Leading Analysts"},"content":{"rendered":"

Bitcoin experienced extreme volatility yesterday after reaching<\/a> a new all-time high of $104,088 on Wednesday. What followed was a textbook \u201cDarth Maul\u201d candle on the daily chart, as BTC plummeted from $103,550 to as low as $90,500 before stabilizing. While some observers initially read the move as a harsh rejection at the psychologically significant $100,000 level, leading analysts suggest this could represent a routine market flush-out rather than a cyclical peak.<\/p>\n

Could This Be The Bitcoin Cycle Top?<\/h2>\n

Traders and analysts on X present a unified narrative: the abrupt spike and subsequent plunge were likely orchestrated by large players capitalizing on high-leverage traders<\/a>. Veteran trader IncomeSharks (@IncomeSharks) stated, \u201cBitcoin \u2013 Classic Darth Maul. Correct me if I\u2019m wrong but I don\u2019t think we\u2019ve seen an asset top with that kind of candle. Usually that\u2019s the punish late longers, trap the shorters, and send it higher candle.\u201d<\/p>\n

\"Bitcoin
Bitcoin forms daily ‘Darth Maul’ Candle | Source: X @IncomeSharks<\/a><\/figcaption><\/figure>\n

Another crypto analyst known as Astronomer (@astronomer_zero) added, \u201cIt\u2019s just whales using the \u2018rinse high leverage button.\u2019 Before continuing whatever it was meant to do. I would want to see the downside of that wick cleared, but that could be it too.\u201d<\/p>\n

Related Reading: Hut 8 Unveils $750 Million Initiative To Establish Strategic Bitcoin Reserve<\/a><\/div>\n

Tony \u201cThe Bull\u201d Severino, CMT, underscored the scale of these moves, noting: \u201cAn $11K \u2018Darth Maul\u2019 on the Bitcoin daily chart. Stops on both sides were run. Incredible intraday volatility in Bitcoin. Welcome to what it\u2019s like for BTC to be $100K. $10,000 moves in a day are now a thing.\u201d<\/p>\n

He followed up, \u201c$100K Bitcoin is the new $10K,\u201d sharing comparative charts from the 2020\u20132021 bull run and drawing parallels to the current price environment.<\/p>\n

\"Bitcoin
Bitcoin $100,000 vs. $10,000 | Source: X @tonythebullBTC<\/a><\/figcaption><\/figure>\n

Charles Edwards, founder of Capriole Investments, reinforced this historical context: \u201cBitcoin. Yes, this is normal.\u201d Edwards posted a similar chart, recalling the volatility when BTC was at $10,000 as well as $1,000 in early 2017.<\/p>\n

\"Bitcoin
Bitcoin price at $1,000 vs. $10,00 vs. $100,000 | Source: X @caprioleio<\/a><\/figcaption><\/figure>\n

Key indicators also remain suggestive of further upside. According to Matthew Sigel, head of research at VanEck<\/a>, top signals are scarce at these levels. \u201cAside from funding rates, which can stay elevated for some time, very few of our \u2018top signals\u2019 indicators say the cycle is peaking. The path of least resistance is still higher, in my opinion.\u201d<\/p>\n

Related Reading: Bitcoin On Track To Replace Gold In 10 Years, Trading Firm Predicts<\/a><\/div>\n

Sigel referenced<\/a> four key metrics: the MVRV Z-Score (still below 5), the Bitcoin Price SMA Multiplier (indicating room for further growth), subdued Google Trends, and Crypto Market Dominance at a mid-range level. These data points collectively imply that the current cycle may not be approaching its apex.<\/p>\n

Macro analyst Alex Kr\u00fcger (@krugermacro) delivered<\/a> another perspective: \u201cBeing asked if that was the top so allow me to share my view. In my book the first levered flush out of a strong bull run, particularly one driven by strong fundamentals, does not mark the top.\u201d<\/p>\n

He noted that while the move was widely anticipated in general terms\u2014albeit not precisely timed\u2014it does not alter the underlying strength of Bitcoin\u2019s rally. Kr\u00fcger added that the sudden retail pivot to older, \u201cdino\u201d altcoins might have signaled a local top for those assets, but not necessarily for Bitcoin: \u201cNothing really has changed imo. Would have liked to see funding also reset on alts. Alas, we can\u2019t get it all.\u201d<\/p>\n

At press time, BTC traded at $98,146.<\/p>\n

\"Bitcoin
Bitcoin price, 1-day chart | Source: BTCUSDT on TradingView.com<\/a><\/figcaption><\/figure>\n
Featured image created with DALL.E, chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"

Bitcoin experienced extreme volatility yesterday after reaching a new all-time high of $104,088 on Wednesday. What followed was a textbook \u201cDarth Maul\u201d candle on the daily chart, as BTC plummeted from $103,550 to as low as $90,500 before stabilizing. While some observers initially read the move as a harsh rejection at the psychologically significant $100,000 level, leading analysts suggest this could represent a routine market flush-out rather than a cyclical peak. Could This Be The Bitcoin Cycle Top? Traders and analysts on X present a unified narrative: the abrupt spike and subsequent plunge were likely orchestrated by large players capitalizing on high-leverage traders. Veteran trader IncomeSharks (@IncomeSharks) stated, \u201cBitcoin \u2013 Classic Darth Maul. Correct me if I\u2019m wrong but I don\u2019t think we\u2019ve seen an asset top with that kind of candle. Usually that\u2019s the punish late longers, trap the shorters, and send it higher candle.\u201d Another crypto analyst known as Astronomer (@astronomer_zero) added, \u201cIt\u2019s just whales using the \u2018rinse high leverage button.\u2019 Before continuing whatever it was meant to do. I would want to see the downside of that wick cleared, but that could be it too.\u201d Related Reading: Hut 8 Unveils $750 Million Initiative To Establish Strategic Bitcoin Reserve Tony \u201cThe Bull\u201d Severino, CMT, underscored the scale of these moves, noting: \u201cAn $11K \u2018Darth Maul\u2019 on the Bitcoin daily chart. Stops on both sides were run. Incredible intraday volatility in Bitcoin. Welcome to what it\u2019s like for BTC to be $100K. $10,000 moves in a day are now a thing.\u201d He followed up, \u201c$100K Bitcoin is the new $10K,\u201d sharing comparative charts from the 2020\u20132021 bull run and drawing parallels to the current price environment. Charles Edwards, founder of Capriole Investments, reinforced this historical context: \u201cBitcoin. Yes, this is normal.\u201d Edwards posted a similar chart, recalling the volatility when BTC was at $10,000 as well as $1,000 in early 2017. Key indicators also remain suggestive of further upside. According to Matthew Sigel, head of research at VanEck, top signals are scarce at these levels. \u201cAside from funding rates, which can stay elevated for some time, very few of our \u2018top signals\u2019 indicators say the cycle is peaking. The path of least resistance is still higher, in my opinion.\u201d Related Reading: Bitcoin On Track To Replace Gold In 10 Years, Trading Firm Predicts Sigel referenced four key metrics: the MVRV Z-Score (still below 5), the Bitcoin Price SMA Multiplier (indicating room for further growth), subdued Google Trends, and Crypto Market Dominance at a mid-range level. These data points collectively imply that the current cycle may not be approaching its apex. Macro analyst Alex Kr\u00fcger (@krugermacro) delivered another perspective: \u201cBeing asked if that was the top so allow me to share my view. In my book the first levered flush out of a strong bull run, particularly one driven by strong fundamentals, does not mark the top.\u201d He noted that while the move was widely anticipated in general terms\u2014albeit not precisely timed\u2014it does not alter the underlying strength of Bitcoin\u2019s rally. Kr\u00fcger added that the sudden retail pivot to older, \u201cdino\u201d altcoins might have signaled a local top for those assets, but not necessarily for Bitcoin: \u201cNothing really has changed imo. Would have liked to see funding also reset on alts. Alas, we can\u2019t get it all.\u201d At press time, BTC traded at $98,146. Featured image created with DALL.E, chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":658351,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,93482,656,679,1119,89185,1122],"class_list":["post-658322","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-cycle-top","tag-bitcoin-news","tag-bitcoin-price","tag-btc","tag-btc-news","tag-btc-price"],"acf":[],"yoast_head":"\nHas Bitcoin Reached Its Cycle Top? 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Through his extensive work with ktsl888.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. You can engage with his latest takes on Twitter: @realJakeSimmons.\",\"sameAs\":[\"https:\/\/x.com\/https:\/\/twitter.com\/realJakeSimmons\"],\"url\":\"https:\/\/ktsl888.com\/author\/marcusmisiak\/\"}]}<\/script>\n","yoast_head_json":{"title":"Has Bitcoin Reached Its Cycle Top? 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