K33 Research's says Bitcoin's February low near $60,000 as the cycle's maximum drawdown.
Bitcoin traded at $77,300 on Thursday after rejecting the $82,000 200-day moving average, pressured by ETF outflows.
Research head Vetle Lunde stated K33's less aggressive 2025 bull market forecast sets conditions for a moderate bear phase.
BTC
73,609.99
-0.60%