Source: Cointelegraph Original: "{title}"
Cryptocurrency analysts and executives told Cointelegraph that Bitcoin's decline from its January peak is a typical cyclical pullback and not unusual, with the price top yet to come.
Ben Simpson, CEO of Collective Shift, stated in an interview with Cointelegraph: “I don’t think the bull market is over; I believe the peak of the cycle has been delayed due to macroeconomic influences, and the global liquidity situation is poor, which is not favorable for cryptocurrencies.”
“This is the third or fourth time Bitcoin has experienced a pullback of over 25% in this cycle, while in the previous cycle we had 12 such pullbacks,” Simpson said.
Since hitting an all-time high of $109,000 on January 20, Bitcoin has fallen 24%, due to uncertainties surrounding U.S. President Trump's tariff policies and the outlook for U.S. interest rates. However, Simpson referred to this as “a normal pullback.”
He stated, “The market got overheated and needs to cool down; it needs to find a new base, and now we are waiting for the next new narrative.”
Bitcoin has dropped 13.58% in the past month. Source: CoinMarketCap
Nick Forster, founder of Derive, also expressed a similar view, stating in an interview with Cointelegraph that Bitcoin “is likely in a normal pullback phase, with the cycle's peak still ahead.”
He noted, “Historically, Bitcoin experiences this type of pullback during a long-term upward trend, and there’s no reason to believe this time will be different.”
After Trump was elected president, Bitcoin surged nearly 36% within a month and first broke the $100,000 mark in December. According to CoinMarketCap, as of the time of writing, Bitcoin is trading at $82,824.
However, Forster added that Bitcoin's fate over the next six months seems increasingly influenced by traditional markets. Similarly, Adrian Przelozny, CEO of Independent Reserve, stated in an interview with Cointelegraph that not only Bitcoin is affected by macroeconomic conditions.
“This impact spans all asset classes and could lead to a surge in global inflation and a slowdown in international economic growth,” Przelozny said.
Source: Charles Edwards
Forster mentioned that Bitcoin's current price movements are consistent with its performance before past price increases, although it appears “highly volatile” at the moment.
Simpson from Collective Shift indicated that the next market topic may revolve around U.S. interest rate cuts, easing quantitative tightening, and increased global liquidity.
However, Charles Edwards, founder of Capriole Investments, expressed uncertainty about whether Bitcoin's bull market has ended.
Edwards stated in an interview with Cointelegraph: “I think the probability is 50%.”
“Yes, on-chain data does suggest that, but if the Federal Reserve starts easing policies in the second half of the year and halts the reduction of its balance sheet, leading to increased dollar liquidity, I think the likelihood of that change is quite high,” Edwards explained.
These comments were made a day after Ki Young Ju, founder and CEO of CryptoQuant, announced that “the Bitcoin bull market has ended.”
“It is expected that the next 6 to 12 months will see bearish or sideways price movements,” Ju said.
Related: Bitfinex states that Bitcoin's price has pulled back 30% as selling pressure increases.
This article does not contain investment opinions or advice. Every investment and trading activity involves risks, and readers should conduct their own research before making decisions.
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