Analyst: Bitcoin Bull Market Progress at 82.5% Despite Recent Correction
An analyst who accurately predicted Bitcoin’s correction in early 2024 believes that BTC is still in a bull market cycle, even after bouncing back from a low of $76,000 in 2025.
Analyst’s Insight
Pseudonymous analyst Rekt Capital, known for his accurate market calls, shared with his 542,000 followers on X that Bitcoin’s current bull market progress stands at 82.5%. He notes that the progress of the bull market will vary depending on the speed of parabolic advances and the depth of retracements.
Rekt Capital also shared his insights with his 107,000 YouTube subscribers, emphasizing that Bitcoin’s recent correction to $76,000 does not signal the beginning of a bear market. He points out that historical data shows similarities between the recent pullback and previous market movements, indicating that it is a downside deviation period rather than the start of a bear market.
He explains, “Many people have been talking about this being a bear market, but it does look like it is a downside deviation period very similar to what we’ve seen back in the past. Obviously, these downside deviation periods are changing across time, but it’s really important to look at the charts in a level-headed manner and try and look at it in an unbiased way and not scream bear market whenever we see a pullback that is actually very similar to the one we saw here [in 2024].”
Rekt Capital highlights that a downside deviation in technical analysis occurs when an asset breaks its immediate support, experiences a false breakdown, and then initiates a recovery towards new highs. This pattern is indicative of a healthy market correction rather than a bearish trend.
Current Bitcoin Price
As of now, Bitcoin is trading at $88,028, marking a 3.4% increase in the last 24 hours. Despite the recent correction, the overall sentiment remains bullish, with many analysts and investors optimistic about Bitcoin’s future price movements.
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