Bitcoin Tumbles Below $85,000: Is The Bull Run Over?

Traders believe Bitcoin BTC/USD has not topped yet, citing multiple historical patterns pointing to a possible extension of the bull market.

What Happened: Crypto trader Astronomer on Friday noted that Bitcoin is slowly approaching the $83,000 mark, aligning with his outlined long strategy.

While short-term sentiment remains cautious, given the risk of a weak Friday close leading to red Mondays or Tuesdays, the overall high-timeframe bias remains bullish.

Currently, Bitcoin has yet to hit key support levels or trigger significant liquidations, and the CME close has not yet been reached.

Astronomer sees potential for a dip to $81,400–$82,400 before a strong long position is added.

Despite acknowledging downside risks, he expects sentiment shifts to trigger a higher move.

Given the importance of the $89,000 target that Bitcoin previously rejected from, the trader remains cautious about short-term bullishness.

Also Read: Arthur Hayes Predicts Bitcoin To Hit $110K Before Retesting $76.5K, Cites Fed’s Policy Pivot

Why It Matters: Crypto analyst Miles Deutscher highlights Bitcoin’s biggest rallies occurring 200+ days after a U.S. presidential inauguration.

During President Trump’s first term, Bitcoin surged after 200 days, then again after 300+ days.

Deutscher further listed bull market top indicators that are yet to occur, highlighting that none of the usual indicators have hit yet.

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