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Bitcoin's Price Range Widens Amid Bearish Short-Term Signals

Coin WorldWednesday, Apr 16, 2025 2:32 am ET

1min read

Bitcoin is expected to continue its wide price range, with short-term indicators suggesting a more bearish outlook. This perspective contrasts with the broader crypto community's view, according to the head of research at 10x Research.

While many crypto analysts predict new Bitcoin all-time highs by June, Markus Thielen expressed skepticism. He pointed out that onchain data signals a more bearish environment rather than a bullish one.

Thielen noted that the Bitcoin stochastic oscillator, which compares a particular closing price to a range of prices over a specific period to determine momentum, shows patterns more typical of a market top or late-cycle phase rather than the early stages of a new bull run.

This discrepancy highlights a disconnect in the market outlook, as short-term signals do not align with longer-term indicators. Thielen emphasized that Bitcoin is no longer a parabolic 'Long-Only' retail-driven market, demanding a more sophisticated, finance-oriented approach.

According to Thielen, Bitcoin's rally over the past year has not been driven by typical 'crypto-bro' speculation but by long-term holders seeking diversification and adopting a buy-and-hold strategy.

Thielen reiterated his stance that Bitcoin may consolidate for an extended period, much like it did in 2024. He views Bitcoin as trading within a broad range of $73,000 to $94,000, with a slight upward bias.

In March 2024, Bitcoin reached its then-all-time high of $73,679 before entering a consolidation phase, swinging within a range of around $20,000 until the US elections in November.

Many crypto analysts are eyeing June as the month when Bitcoin could surpass its current all-time high of $109,000, which it reached in January just before the US elections.

According to the analyst's forecast, there’s more than 50% chance we will see all-time highs before the end of June this year.

Sharing a similar view, Bitcoin network economist Timothy Peterson and Real Vision chief crypto analyst Jamie Coutts have also marked June as when Bitcoin could reach a new high.

According to the analyst's forecast, it is entirely possible Bitcoin could reach a new all-time high before June.

Meanwhile, the market may be underestimating how quickly Bitcoin could surge – potentially hitting new all-time highs before Q2 is out.

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