Crypto strategist Benjamin Cowen, known for his accurate prediction of Bitcoin's correction in January, believes BTC still has room for growth this year.
Cowen forecasts a potential “counter-trend” rally for Bitcoin in the coming months, but he’s closely monitoring key price levels to determine if the bull run is truly over.
He predicts a significant drop in Q1 2025, followed by a counter-rally in Q2/Q3, where most altcoin pairs will likely suffer. However, Cowen points out that if Bitcoin drops below $70,000 in the next few weeks, the rally could end in a lower high, indicating the market has peaked.
Conversely, if Bitcoin stays above $70,000, the rally may lead to a higher high, suggesting further gains and a continuation of the bull market.
At the time of writing, Bitcoin is trading around $86,380, and Cowen is watching closely for a possible breakout. He also foresees that Bitcoin’s trajectory will be influenced by macroeconomic factors, such as interest rate policies and overall investor sentiment.
He highlights the impact of the Federal Reserve’s monetary decisions on Bitcoin’s performance, emphasizing that a shift in liquidity could either boost Bitcoin’s price or speed up a market correction.
Cowen believes that the key to sustaining Bitcoin’s momentum is the renewed involvement of retail investors, suggesting that a recovery in the market will depend heavily on renewed enthusiasm from individual traders rather than just institutional capital.
As Bitcoin continues to consolidate above $100K, a critical market signal is flashing: BTC funding rates remain elevated, even as price action cools.
Billionaire investor Ray Dalio, founder of Bridgewater Associates, has suggested that a balanced investment portfolio should include up to 15% allocation to gold or Bitcoin, though he remains personally more inclined toward the traditional asset.
With Bitcoin hovering near $119,000, traders are weighing their next move carefully. The question dominating the market now is simple: Buy the dip or wait for a cleaner setup?
Bitcoin has officially reached the $116,000 milestone, a level previously forecasted by crypto services firm Matrixport using its proprietary seasonal modeling.