Crypto Pundit Declares Bitcoin Bull Market Intact Despite Price Plunge - Here’s The Real Story
Bitcoin's recent nosedive has traders panicking - but one prominent analyst says the bull run is far from over.
The Hidden Signals Behind the Sell-Off
While retail investors flee, institutional accumulation continues at record pace. Major funds are treating the dip as a buying opportunity, loading up on BTC at discounted prices.
Technical Indicators Point to Strength
Key metrics show Bitcoin's fundamentals remain robust. Network activity hits new highs, mining difficulty adjusts perfectly, and long-term holders refuse to sell - classic bull market behavior.
Wall Street's Predictable Panic
Traditional finance veterans are doing what they do best: overreacting to short-term volatility while missing the bigger picture. Their 9-to-5 market mentality can't comprehend crypto's 24/7 momentum.
The smart money sees this correction as healthy consolidation before the next leg up. Sometimes the most bullish signals come disguised as bearish headlines.
Bitcoin Holds Strong Above Key Levels
Egrag Crypto explains that bitcoin follows a clear pattern that has been in place since December 2022. First, the price surges upward, then it retests support, bounces back, corrects slightly, and makes a new local high.
Right now, the most critical level to watch is $103,000. As long as Bitcoin does not fall below that level, Egrag says there is no real danger. Instead, he expects one more big pump to arrive before the cycle tops out. His personal target for this move is between $150,000 and $175,000. In his view, this WOULD mark the last push of the current bull run before the market flips to its next bear phase.
Egrag stresses that corrections along the way are normal and should not cause panic. He believes traders often get caught up in short-term drops without realizing that they are only part of a larger trend. Looking at the bigger picture, it is clear that the Bitcoin bull market still has room to run.
Market Parallels With Gold Suggest Bull Run Is Intact
Egrag crypto also draws a strong comparison between Bitcoin and gold. He points out that many analysts once thought gold had peaked at a technical target of $3,500. Instead, the price continued to rise due to what he calls a short squeeze. This sudden surge, he says, was meant to trap retail buyers into a “suckers rally.”
He notes that gold demand is currently so high that even shop owners with decades of experience say they have never seen business like this. To Egrag, this kind of HYPE is usually a warning that the cycle is near its top. He expects gold to eventually fall by $600 to $1,000 once Russia and Ukraine restore peace, a move that he believes would once again confirm the cyclical nature of the market.
For Bitcoin, the same lesson applies. Despite loud voices calling the bull run over, Egrag insists that the cycle is still alive. He views the current downturn as merely a pause before another significant surge. He plans to invest around $30,000 in the following macro cycle and later rotate into strong altcoins. In his view, staying patient and respecting cycles is the most effective approach.
