bitcoin
The expert explained that his estimate is based on a “historical average”: from the peak (October 2025, when bitcoin rose above $126,000) to the bottom usually takes about 12 months, writes forklog.com.
According to Turpin, the digital gold rate must return to $100,000 for the bull market to resume. Reaching this level is possible if the asset’s quotes fall below the 200-week moving average, a critical support level. However, the investor considers this scenario unlikely.
“The chance of seeing $100,000 this year is there, but it is small. You need strong ETF demand, continued buying by Michael Saylor Strategy and no liquidations on a sharp drop,” he added.
Other experts, including trader Peter Brandt, pointed to a potential bottom this fall.
Analyst Matthew Hyland noted that investors are generally unsure about the sustainability of the current market dynamics, despite the recent recovery. In his opinion, there is no euphoria or obvious interest – many are simply interpreting the situation through the prism of their own biases.
“As I see it, the broader expected consensus outcome for bitcoin is another drop by October,” he wrote.
What’s happening in the market
At the time of writing, bitcoin is trading around $77,800, having fallen 0.3% over the past 24 hours. On the night of April 27, the price of the asset reached a local high of $79,400 before pulling back sharply.
The Ethereum exchange rate fell 0.2% to $2300. Most of the largest coins by capitalization were limited to a correction of 0.5%.
The Fear and Greed Index came out of a prolonged fear phase and shifted to neutral.
The market was supported by U.S. spot bitcoin-ETFs and easing geopolitical tensions. Products based on the first cryptocurrency raised $823 million during the week.
“All of this indicates that the market is returning to moderate risk-adjusted positioning,” commented Dominic John of Zeus Research.
Min Jun of Presto Research emphasized that the market has stopped reacting sharply to news from the Middle East due to investor fatigue. According to her, the participants switched their attention to the FOMC meeting, which will be held on April 29.
The upcoming meeting may be the last for the current head of the Fed Jerome Powell, noted market observer Nick Pakrin. His term expires in May.
Earlier it was reported that US President Donald Trump criticized the crypto markets with the words “The world has become like a casino”.
