The price dropped by approximately 10% from its all-time high, briefly falling into the tens during weekend trading.
While institutional demand remains strong, the correction may continue into July if things go the same way, according to analysts.
Market analyst Benjamin Coin stated that "Bitcoin's price is likely to start showing some weakness around mid-June with weakness appearing in the third quarter."
This is what is happening now, and it happened during the past two years. Analysts expect the next drop to be in August or September.
Bitcoin price drop predictions in the third quarter
Other analysts have published charts showing significant declines in June and July, leading to a drop in the third quarter in previous cycles before rising in late Q4 of a bull market.
I mentioned some time ago on YouTube that Bitcoin's price is likely to start showing some weakness around mid-June with weakness appearing in the third quarter.
The same thing happened in the past two years.
I believe the next decline will be around
Coin said: "Bitcoin's price is likely to return soon to its support range in the bull market, returning to the mid-$90,000 range."
The price of Bitcoin dropped by about 35% between June and July 2017 before rising to an all-time high in December of that year. It fell by 27% in those two months of 2019, and by 25% between June and July in 2021, another year that saw a bullish market.
The price of Bitcoin fell by 38% between June and July in 2022, losing 21% in 2024, so its summer decline has been fairly consistent in recent years.
If history repeats itself, a similar drop from the June peak of $110,000 could see Bitcoin's price fall by about 30% to below $80,000 before the end of July.
Chart expert Peter Brandt identified what he called the "four red cocks" pattern on the chart, which depicts several large red candles with a downward trend accelerating.
I mentioned some time ago on YouTube that #Bitcoin is likely to start showing some weakness around mid-June, with weakness appearing in the third quarter.
The same thing happened in the past two years.
I believe the next low will be around August/September.
Weak weekly close
Bitcoin closed the week below the key support level of $104,400, after maintaining it for weeks. Analyst "Rekt Capital" noted that the asset is "on the verge of collapse."
Bitcoin began to recover from its drop to $98,480 on Sunday and was approaching $102,000 at the time of writing this report. However, it is still down nearly 8% from its June high of $110,000.
Michael van de Poppe, co-founder of MN Fund, commented on Iran's attempt to close the Strait of Hormuz as the next step in escalation.
He said: "As long as this continues, there is nothing to indicate that high-risk assets such as Bitcoin and altcoins will decline," describing it as "surrender."
We are in for a highly volatile week with major inflation reports coming out in the United States and all eyes are on the Middle East as tensions escalate.
#SwingTradingStrategy #USNationalDebt #SaylorBTCPurchase #ScalpingStrategy