User-38b3a15315

Bitcoin has only undergone a 'normal adjustment'; the peak of the cycle has not yet arrived

The pullback of Bitcoin from its January peak is a typical cyclical adjustment and not unusual; the price top has not yet been reached. The bull market is not over, and the peak of the cycle has been delayed due to macro conditions, with poor global liquidity negatively impacting cryptocurrencies. Compared to the previous cycle's 12 instances, this is only the third or fourth time Bitcoin has experienced a pullback of over 25% in this cycle. The market is overheated and needs to cool down, and it needs to find a new foundation.

Bitcoin may be in a normal pullback phase, and the peak of the cycle has not yet arrived. Historically, Bitcoin experiences this type of pullback during its long-term upward trend, and there is no reason to believe this time will be different. The fate of Bitcoin over the next six months seems increasingly tied to traditional markets, with the next narrative potentially revolving around U.S. interest rate cuts, easing of quantitative tightening, and increased global liquidity.

Follow me for more information and insights from the cryptocurrency world.