Bitcoin Bull Market Nears End; Price Could Slip to $70K—Analyst Predicts

After a strong rally earlier this year, Bitcoin’s price has started to show signs of exhaustion. The world’s largest cryptocurrency, which recently reached record highs, is now facing heavy selling pressure as investors turn cautious amid global market volatility.

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According to an Elliott Wave expert, the current technical structure suggests that the bull market phase may be coming to an end. The analyst predicts a potential price drop toward the $70,000 level or even lower, marking a significant correction from recent peaks

Key Points

• Bitcoin has dropped sharply from its recent highs amid growing market uncertainty.

• An Elliott Wave analyst predicts the bull market may be ending, with Bitcoin possibly falling to $70,000 or lower.

• Weak technical signals and rising macroeconomic risks add pressure to the crypto market.

• Long-term investors remain hopeful for a rebound once the correction stabilizes.

Technical Patterns Point to a Deeper Pullback

Elliott Wave theory, a popular technical analysis model, identifies recurring market cycles driven by investor psychology. The expert explained that Bitcoin appears to have completed a five-wave impulse—typically followed by a corrective phase.

This pattern, combined with falling momentum indicators such as the Relative Strength Index (RSI) and declining trading volume, points to a possible deeper pullback in the short term.

Market Sentiment Turns Cautious

Investor sentiment in the broader crypto market has cooled in recent weeks. Persistent ETF outflows, coupled with uncertainty about U.S. inflation data and Federal Reserve rate policies, have caused traders to reduce risk exposure.

Meanwhile, altcoins have also seen sharp declines, signaling that the recent market weakness isn’t limited to Bitcoin alone. Analysts suggest that institutional investors may be waiting for clearer economic signals before returning to aggressive crypto buying.

Long-Term Outlook Still Positive

Despite the short-term bearish forecast, some experts believe the overall crypto bull cycle isn’t completely over. Bitcoin’s strong network fundamentals, growing institutional adoption, and expanding ETF ecosystem continue to support its long-term value proposition.

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If Bitcoin finds strong support around the $70,000–$72,000 range, it could stabilize and prepare for the next leg higher once market conditions improve.