$BTC

Market analysts suggest that Bitcoin’s January decline is not unusual, suggesting a potential bull market recovery. Based on a key technical indicator, Bitcoin’s price could peak by mid-July 2025. Bitcoin trader and analyst Dave The Wave notes that despite a 14% drop from its all-time high, the 52-week simple moving average (SMA) points to further upside potential for Bitcoin. Rekt Capital highlights that the ongoing price consolidation is part of a “first price discovery correction,” which typically occurs between weeks 6 and 8 of a parabolic phase and lasts 2 to 4 weeks. Analyst Axel Adler Jr. notes that the current decline is less severe than previous consolidation phases, with Bitcoin falling more than 26% between July 29 and August 5, 2024.