The Bitcoiner Prince Filip expects an “omega candle” for BTC due to Bitcoin's economic properties but warns that the price may be suppressed by market participants.
The price trajectory of Bitcoin may be suppressed before its next "omega candle" rally, according to Prince Filip Karađorđević, heir apparent of Serbia and Yugoslavia.
In an interview on April 24 with Simply Bitcoin, Filip said that some market participants may be limiting the price action of Bitcoin BTC81,914 €.
"People are capable of controlling the market to some extent," he said. "Maybe that's what acted in the 2021 market that suppressed its price from jumping high. We could see that again in 2025, but there will be a point when [the price of Bitcoin] escapes."
Filip added that Bitcoin remains a fundamentally deflationary asset and said that its value "will always go up over time."
He referred to the concept of "omega candle," popularized by Samson Mow, Bitcoin advocate and CEO of Jan3. The theory predicts that Bitcoin's growth trajectory will explode after it reaches the USD 100,000 mark.
"It will start to rise 10,000 a day or fall 10,000 a day. And this is the candle of God. After that, we will start to see omega candles, which are increases of 100,000 daily," Mow said in an exclusive interview with Cointelegraph in November 2024.
Factors contributing to Bitcoin's growth include increasing distrust in the traditional financial system, according to Mow.
ETF inflows and macro relief drive momentum
The price of Bitcoin experienced a recovery of more than 9% during the past week, as U.S. spot Bitcoin exchange-traded funds (ETFs) accumulated over USD 2.2 billion in Bitcoin in the three days leading up to April 23, according to data from Farside Investors.
The price action is in line "with our expectations of Bitcoin's relative strength against stocks and the dollar"
"Bitcoin is rallying due to a combination of macro relief, strong ETF inflows, and rising expectations that the Fed will maintain policy flexibility amid softened economic data."
Bitcoin may continue to see further upside if "equities keep rising during earnings week," but the "still elevated macro uncertainty could limit widespread upside," analysts added.
Investors in stocks and cryptocurrencies are also concerned about a potential recession in the United States. JPMorgan estimates a 60% probability of a recession in 2025, citing U.S. President Donald Trump's 145% tariffs on China as a "material threat to growth" that increases the chances of an economic recession.
