Bitcoin (BTC), also known as Bitcoin, is a cryptocurrency. “compressed” According to new research, the cyclical nature of the planet’s climate is not affected by its low levels.
Important points
- Bitcoin behaves similarly to previous cycles, as it follows a four-year trendline.
- BTC’s price is currently undergoing a downward trend, according to an analysis. “compressed” It trades at or below the $76,400 price target.
- New estimates put the bearish market at about 70%.
Analysis of the $62,000 BTC Price: Bitcoin “not broken”
Then, you can also find out more about the following: X post David Eng, an analyst at David Eng & Associates said on Wednesday that BTC’s price still remains volatile “runs on two clocks.”
“400-day clock, $BTC looks cyclical. ~4-year clock, the cycle noise gets filtered out and the adoption structure appears,” He summarized.
Both the four-year and 400-day SMAs are important for measuring time. It is noteworthy that the former has acted as a support during Bitcoin bull markets. No daily candle closed below this average in either cycle.
Source: Cointelegraph/ BTC/USD chart for one day with 400SMA. Source: Cointelegraph/TradingView
The price will fluctuate above or below the trendline depending on the position of the market in the cycle.
“The point is that Bitcoin keeps stretching away from this adoption structure and then reverting back toward it,” Eng summarised
The four-year price trend suggests that BTC/USD is currently undervalued around 20%. The chart by Eng shows the Power Law Price of Bitcoin, which is now in uncharted territory with a value near $135,000.
“$BTC is not broken,” He concluded.
“It is compressed below its adoption structure.”
Bitcoin’s bear market could continue in August
You can also read about the advantages of using Cointelegraph reportedHistorical comparisons indicate that Bitcoin’s current bearish market may continue for several months.
Related: US dollar strength hits highest since May 2025: Five things to know in Bitcoin this week
According to the latest estimations from Rekt capital, a trader and analyst firm, this downtrend is 71% completed.
His analysis continues to focus What will happen to the exponential moving average 50 month (EMA) currently set at $63,900?
“At this stage, if June Monthly Closes just like this at $62k then that would confirm the breakdown from the 50-Month EMA. So it July turns into a green month, then that could see price turn the 50 EMA into new resistance,” He told X Followers
“Then August would cancel out July and send Bitcoin into downside continuation.”
Chart of BTC/USD with 50-month EMA. Source: Cointelegraph/TradingView
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Source: cointelegraph.com
