Bit (BTC) could drop to the level of $77,000 while still maintaining an upward price trend in 2025, according to the assessment of CryptoQuant CEO, Ki Young Ju.
In a series of posts on the X platform on February 19, Ki argued that a 30% drop in Bit is still consistent with historical trends.
Bit is still in a "bull market cycle" despite a month of sideways movement and a lack of momentum to surpass the $100,000 mark.
According to Ki Young Ju, the Bit price will continue to remain at a high level throughout this year, although the start was rather sluggish.
"I don't think we'll enter a bear market this year," he said when analyzing the Capital of different groups of Bit investors.
"We are still in a bull market cycle. The final price will rise, but the volatility range seems wide. Personally, I believe the bull cycle can continue even if Bit drops 30% from its all-time high (e.g., from $110,000 to $77,000), similar to previous cycles."
The local Dip of $77,000 will still help BTC/USD maintain above the peak of the previous cycle and has now become an important support level that many traders are expecting.
Ki also pointed out some important Capital levels, including the $89,000 level - the Medium Capital of investors in the US Bit ETF spot fund, which has served as a support level since November.
As reported by Bit Magazine previously, new Bit whales also have a similar net buy price, making the $89,000 level increasingly important if the market experiences a deeper correction.
Meanwhile, investors on the Binance exchange have a significantly lower average break-even Capital, around $59,000. Just below this level, Bit mining companies will start to incur losses as the price drops below $57,000.
Ki noted that "in previous recessions (May 2022, March 2020, November 2018), when the Bit price fell below this level, the bear market was confirmed."
In another development, CryptoQuant believes that the Bit price still has room for growth in this cycle. Analyst Timo Oinonen said the current price increase "has not yet ended."
In the "Quicktake" article on February 17, Oinonen said that since the halving event last April, BTC/USD has only increased by about 60%.
"Despite the ongoing halving cycle, I predict there will be a Dump in May, a sideways summer, and higher prices in the final quarter. The strong Q4 uptrend has repeated in 2013, 2016, 2017, 2020, 2021, 2023, and 2024," Oinonen concluded.
"A deeper correction could last for several months or even a year."
Disclaimer: This article is for informational purposes only and is not investment advice. Investors should do their own research before making decisions. We are not responsible for your investment decisions.
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