Crypto analysts think Bitcoin might have one more ugly drop left before the bull market can really get going again. They’re watching the 50-week moving average around $102,500 as a likely target, based on how things have played out before.
That technical indicator has acted as solid support four times since this bull run started in mid-2023, and analysts expect it’ll get tested again soon. There’s still tons of leverage in the market plus a huge liquidity cluster sitting around $104,000 that probably needs to get cleared out.
Analyst Sykodelic pointed out that nobody wants to hear this, but taking out that $104,000 level seems very likely. He noted the market always feels absolutely terrible right before it reverses, just like it did in April when Bitcoin hit $74,000 and August 2024 when it crashed to $49,000. Both times sentiment was completely destroyed, and then Bitcoin reversed hard after tagging those support levels.
Another analyst called Negentropic said this looks like the final flush , comparing it to September’s correction but with less intense profit-taking this time. The current setup “opens the door to $102,000,” and we’re very close to a bigger reversal.
Nick Ruck from LVRG Research told Cointelegraph that a pullback to $104,000 would be a healthy market correction driven by profit-taking and macro uncertainty. But the fundamentals and institutional interest remain strong enough to restart the bull market afterward.
Conclusion
In short, analysts see Bitcoin’s dip toward $102K–$104K as the final shakeout before a major rebound. Despite short-term pain, strong fundamentals and institutional demand suggest the bull market could soon regain momentum.
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