Cryptocurrency analyst Merlijn The Trader stated that BTC has one more significant downward phase remaining, to $58,000, before breaking its new high of $150,000. He explained via X, "According to Wall Street charts, the market reached its current state after going through phases of anxiety, denial, and fear, following the euphoria when BTC hit $126 million. The next stage is anger, and BTC is expected to fall to approximately $58,000. This is the final phase before the market transitions into a stage full of disbelief. After the disbelief phase, BTC is expected to rise gradually. The entire cycle is nearing its end, with only one more sharp drop remaining," he explained.
