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As Bitcoin hovers around $96,000, Ki Young Ju, CEO of CryptoQuant, claims that a major correction should not jeopardize the bull run in 2025. This analysis comes in the context of growing institutional adoption in the United States.
An analyst claims that Bitcoin will remain bullish even after a drop to $77,000
Ki Young Ju, a recognized expert in the crypto market, shared his analysis on February 19 on the X platform. According to him, Bitcoin could experience a correction of 30% from its all-time highs while maintaining its bullish momentum. This projection is based on the study of previous cycles, where similar corrections did not reverse the overall trend.
The analyst identifies several crucial support levels. The most important is at $89,000, corresponding to the average entry price of Bitcoin ETF investors. Another significant level is at $59,000, representing the breakeven point for traders on Binance. For miners, the breakeven threshold is at $57,000, a historically determining level to confirm the entry into a bear market.
This technical analysis is reinforced by growing institutional adoption. Several U.S. states are currently exploring the possibility of creating their own strategic reserves in Bitcoin. On February 16, twelve states, including California, collectively invested $330 million in Strategy (formerly MicroStrategy), the main institutional holder of Bitcoin with 478,740 BTC in reserve.
Post-halving perspectives and bullish catalysts
The April halving event is another determining factor. Historically, this halving of the miners’ rewards has always preceded significant upward phases. However, since the last halving, Bitcoin has only increased by 60%, suggesting an untapped potential for growth according to CryptoQuant.
Contributor analyst Timo Oinonen anticipates a multi-phase evolution: a possible correction in May, followed by a period of summer stabilization, before a bullish rebound in the last quarter. This projection is based on the positive seasonality of the fourth quarter, observed recurrently since 2013.
In light of these elements, the current consolidation appears as a transitional phase rather than a trend reversal. The combination of growing institutional adoption, the effects of halving, and the resilience of the retail market suggests that Bitcoin could maintain its bullish momentum despite any significant corrections. Meanwhile, FTX victims have started to be reimbursed, and part of these funds could be reinvested in cryptos, thus supporting the market.
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Passionné par le Bitcoin, j’aime explorer les méandres de la blockchain et des cryptos et je partage mes découvertes avec la communauté. Mon rêve est de vivre dans un monde où la vie privée et la liberté financière sont garanties pour tous, et je crois fermement que Bitcoin est l’outil qui peut rendre cela possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
