Merlijn, a crypto analyst has called the Bitcoin crash from $91,000 to $88,000 a bear trap. The market is now optimistic. After a series of weekend sales, the flagship cryptocurrency had fallen to this level but since has recovered. psychological $100,000 level.
Bitcoin Price Drop to $91,000 Termed “Biggest Bear Trap”
Then, you can get in touch with us. X postMerlijn described Bitcoin’s price drop to $91,000. “biggest bear trap of this cycle.” This analyst observed that it happened during bull markets in 2017 and 2020 and is now happening in this 2025 bull cycle. He believes that Bitcoin, and other cryptos are primed for a new rally.
Related Reading
Bitcoin’s price has risen. crashed to $91,000 After a series of stock market sell-offs triggered by Donald Trump’s tariffs, Mexico, Canada, China and other countries, there was an increase in the number of shares traded. There were fears of a possible trade war, as Mexico and Canada announced tariffs against US imports in response. But this was a false alarm, and BTC’s weekend loss quickly reversed on Monday.
Bitcoin’s price recovered $100,000 after the US, Mexico and Canada decided to take a month-long break on these tariffs. The rise to $100,000, a psychological level for the market has once again inspired optimism. Altcoins have also recovered alongside the main crypto. Merlijn told market participants to either get shaken up or position themselves for the largest move ever.
Merlijn has also posted a chart showing that the bull-cycle is still far from ending. The chart shows that the Bitcoin price is still going to go through the FOMO and Euphoria phases before the cycle reaches its peak.
What Next for BTC?
A crypto analyst posts a X-post Rekt Capital The Bitcoin price must record a close of $101,000 daily and then retest that level to make it a strong support. A successful return to this level of price could result in a continuation of the uptrend, and BTC rising to about $103,000. According to the chart that he provided, the next major resistance level for Bitcoin is at around $106,148.
Related Reading
Titan of Crypto, a crypto analyst, asserted: Bitcoin’s bull market It is still in tact. The bullish trend, according to him remains intact as long BTC maintains a close monthly above the Fibonacci level of 38.2%. He highlighted a pattern of continuation in an X-post that could push the Bitcoin price up to $117,000 within the next few months.
Bitcoin’s price at time of publication is around $99500. It has risen over 5% during the last 24-hours. data CoinMarketCap.
Charts from Tradingview.com and Unsplash.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: www.newsbtc.com
