Has Bitcoin Reached Its Cycle Top? Insights From Top Analysts
Bitcoin experienced wild volatility yesterday achieve It hit a record high of $104,088 on Wednesday. What followed was a textbook “Darth Maul” candle on the daily chart, as Bitcoin plummeted from $103,550 to $90,500 before stabilizing. While some observers initially interpreted the move as a harsh rejection of the psychologically important $100,000 level, leading analysts said it likely represented a regular market rush rather than a cyclical peak.
Could this be a Bitcoin cycle top?
Traders and analysts on High leverage traders. Veteran trader IncomeSharks (@IncomeSharks) said, “Bitcoin – classic Darth Maul. Correct me if I’m wrong, but I don’t think we’ve seen an asset top with a candle like this. Usually that’s when the penalty is higher The older one traps the shorter one and sends it to the higher candle.”
Another crypto analyst named Astronomer (@astronomer_zero) added, “This is just whales using the ‘flush the high leverage button.’” before moving on to what they were doing before. I’d like to see the shortcomings of the wick removed, but that might be it. “
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CMT’s Tony “The Bull” Severino highlighted the scale of these moves, noting: “‘Darth Maul’ on Bitcoin’s daily chart at $11,000. There are stops on both sides. Bitcoin’s intraday moves are fascinating Unbelievable. Welcome to the scenario where BTC hits $10,000 and is now the norm.”
He went on to say, “$100,000 in Bitcoin is the new $10,000,” sharing a comparative chart of the 2020-2021 bull run and comparing it to the current price environment.
Charles Edwards, founder of Capriole Investments, emphasized this historical context: “Bitcoin. Yes, this is normal.” Edwards posted a similar chart, recalling the volatility of BTC in early 2017 when the price was $10,000 and $1,000.
Key indicators also still point to further gains. Matthew Sigel, Research Director Van Eyckthere is very little signal from the top at these levels. “Other than funding rates likely to remain high for some time, few of our ‘top signal’ indicators suggest the cycle is peaking. In my view, the path of least resistance remains the higher path.”
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Siegel quoted Four key indicators: MVRV Z-score (still below 5), Bitcoin price SMA multiplier (indicating room for further growth), lackluster Google Trends, and moderate levels of cryptocurrency market dominance. Together, these data points mean that the current cycle may not have peaked yet.
Macro analyst Alex Krüger (@krugermacro) publish Another view: “Asked if this is a top, so allow me to share my opinion. In my book, the first leverage flush of a strong bull market, especially one driven by strong fundamentals, is not Mark the top.”
He noted that while the move was broadly anticipated — albeit inaccurately timed — it did not change the underlying power of Bitcoin’s rally. Krueger added that the sudden retail shift towards older “dinosaur” altcoins could signal a local top for these assets, but not necessarily Bitcoin: “In my opinion, nothing has really changed. Hope to see funding Also retuned to the replacement. Alas, we can’t get it all.”
At press time, BTC was trading at $98,146.
Featured image created using DALL.E, chart from TradingView.com
