BitcoinHabebe, who accurately predicted Bitcoin’s bottom at $16k before its 600% rally, believes the cryptocurrency has likely reached a local top after hitting $108k. According to the analyst, this cooling-off period is exactly what’s needed for altcoins to begin their run.
Looking at patterns from previous market cycles, BitcoinHabebe points out that during the last bull market, Bitcoin dropped 55% from $64k to $29k before rallying over 130% to $69k. It was only during this second run that the market experienced an explosive altseason.
“Now Bitcoin had its first run and is going to form a bottom around the $62-68k area,” explains BitcoinHabebe. “After which it will start its second run towards $120k+.”
The analyst expects a full-blown altseason to begin once BTC finds its bottom in the suggested range and begins its second bullish wave. They emphasize that Bitcoin’s rise doesn’t automatically lift altcoins, noting that despite BTC’s 630% increase, most alternative cryptocurrencies remain at their lowest levels.
BitcoinHabebe suggests that this cycle’s bottom will match last cycle’s top, and we’re approaching that level. Beyond a few short positions shared on their Telegram channel, they recommend holding spot positions and staying calm through what they describe as “this last shakeout before altseason.”
BTC Price Moves Contrary to Crowd Expectations
Maksim, the founder of Santiment, offers a data-driven approach to identifying market bottoms. He advises serious investors to study charts showing social volume and dominance for “buy the dips” sentiment.
“Understand the pattern and by all means avoid listening to any KOL or media,” Maksim warns. “Better analyse what they say and use it to your advantage.”
The Santiment team reinforces this contrarian view, noting that crypto markets historically move in the opposite direction of crowd expectations. This explains why optimal buying times occur when traders no longer view dips as prime buying opportunities.
Looking ahead, analyst Ali suggests that if Bitcoin reclaims $84,000 as support, it could potentially rally toward a new all-time high of $128,000. This projection aligns with BitcoinHabebe’s forecast of Bitcoin eventually reaching the $120k+ range after finding its bottom.
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