Bitcoin "seems exhausted" and the next bear market points to a price of $69,000

Bitcoin reached its highest levels in history this week, but despite that, BTC still fails to convince many. Key points:

The historic highs of Bitcoin matter little to those who believe that a correction in the price of BTC should have occurred a long time ago.

Both the latest rise and the bull market itself are "on borrowed time," say traders.

Comparisons with previous price cycles remain relevant despite the surge in institutional investment.

Bitcoin traders

BTC

€95,793

are calling for a pullback after historic highs and seven weekly "green" candles.

The momentum of BTC's price continues to be met with skepticism, as commentators assume that lower levels will come.

The roadmap for BTC's price is preparing for the "cycle peak" in the fourth quarter of the year.

Bitcoin reached its highest levels in history this week, according to data from Cointelegraph Markets Pro and TradingView, but despite having already risen a third in the second quarter, the BTC/USD pair still fails to convince many.

Long-term analysis suggests that not only must the price action drop again to consolidate gains, but that the entire bull market is about to end.

Among the latest forecasts calling for a "reality check" is that of the trading resource Stockmoney Lizards.

In one of its latest posts on X, it retrieved a roadmap of the bull market from late 2023.$BTC