Bitcoin (BTC) continues to follow the trajectory of its 2017 cycle. Despite recent market turbulence, driven by escalating tariff tensions between the U.S and its neighbouring countries, as well as China.
Bitcoin remains up approximately 525% from its cycle low during the FTX collapse in November 2022. Comparatively, at the same stage in the 2017 cycle, bitcoin had risen 533%.
While, another method for evaluating bitcoin’s cyclical behavior is by measuring returns from previous all-time highs. The last cycle’s market peak occurred in April 2021 at approximately $64,000, although in nominal terms, bitcoin’s all-time high was $69,000 in November 2021.
However, many on-chain indicators suggest that April 2021 marked the cycle’s true top. Despite ongoing geopolitical tensions, bitcoin has demonstrated remarkable consistency in tracking previous cycles.
In addition, bitcoin (BTC) has remained range-bound within a $90,000 to $109,000 channel for the past 2.5 months, even amid heightened market volatility. Bitcoin continues to test both the upper and lower bounds of its current trading channel.
Meanwhile, previous CoinDesk research identified $91,000 as a local bottom for bitcoin.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
The cryptocurrency is trading below key ETF cost levels and nearing its pre-election price floor…
Shares of mining companies rose last month despite softer bitcoin prices as storms cut the…
Convergence between bitcoin supply in profit and supply in loss has repeatedly coincided with major…
Your day-ahead look for Feb. 4, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Limited historical trading activity and thin onchain supply suggest further consolidation or a retest of…
Bitcoin and ether are posting gains after a sharp market-wide decline, with derivatives traders continuing…