Bitcoin had extreme volatility yesterday after that reach The stock's low was $104,088 on Wednesday. The daily chart was followed by a textbook “Darth Maul” candle, as BTC fell from $103,550 to as low as $90,500 before stabilizing. While some observers initially read the move as a solid rejection of the psychologically important $100,000 level, leading analysts suggest that this may represent normal market flow. rather than a circular peak.
Could This Be The Top Bitcoin Cycle?
Traders and analysts on X present a unified narrative: the sudden spike and subsequent fall appear to have been orchestrated by big players taking advantage. highly leveraged traders. IncomeSharks (@IncomeSharks) veteran trader said, “Bitcoin – Classic Darth Maul. Correct me if I'm wrong but I don't think we've seen an asset top with that kind of candle. Usually that's the longer penalty, catch the contractions, and add a higher candle to it.”
Another crypto analyst called Astronomer (@astronomer_zero) said, “It's just whales using the 'rinse high leverage' button. Before proceeding with whatever was supposed to be done. I would like to clean up the negative effects of that wand, but that might as well be there. “
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CMT's Tony “The Bull” Severino emphasized the magnitude of these trends, noting: “Darth Maul' $11K on the Bitcoin Daily Chart. Stops on both sides were run. Intraday Volatility in Bitcoin. Welcome to what it's like for BTC to be $100K. Moving $10,000 in a day is now a thing.”
He continued, “$100K Bitcoin is the new $10K,” sharing comparable charts from the 2020–2021 bull run and drawing a parallel to the current price environment.
Charles Edwards, founder of Capriole Investments, confirmed this historical context: “Bitcoin. Yes, this is normal. ” Edwards posted a similar chart, recalling the volatility when BTC was at $10,000 plus $1,000 in early 2017.
Key indicators are also showing upside. According to Matthew Sigel, head of research at VanEckhigh marks are scarce at these levels. “Other than funding rates, which may remain elevated for some time, very few of our 'leading indicators' indicate that the cycle is peaking. The path of least resistance is still higher, in my opinion.”
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Sigel reference four main metrics: the MVRV Z-Score (still below 5), the Bitcoin Price SMA Multiplier (showing room for further growth), Google Trends under control, and Crypto Market Leadership at mid-range level. These data points together mean that the current cycle may not be nearing its peak.
Macro analyst Alex Krüger (@krugermacro) delivered Another view: “Wondering if that's the ceiling so let me share my opinion. In my book the first breakout of a strong bull run, especially one driven by strong fundamentals, does not mark the top. “
He noted that while the move was widely expected in general—though not specified in detail—it does not change the underlying strength of Bitcoin's rally. Krüger said that the sudden sales pivot to older “dino” altcoins may have marked a local top for these assets, but not necessarily for Bitcoin: “Nothing has really changed imo. We would also like to see money reset on alts. Alas, we can't have everything.”
At press time, BTC was trading at $98,146.
Featured image created by DALL.E, a chart from TradingView.com
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