Analysts suggest Bitcoin may have 20 weeks left in its bull cycle based on previous market patterns.
Over $1B in crypto positions were liquidated as Bitcoin dropped below $102K amid market volatility.
Upcoming U.S. jobs data and Fed rate decisions are expected to influence Bitcoin’s short-term direction.
Political tensions and options expiry add uncertainty as long-term holders continue profit-taking.
Bitcoin may be entering the final stages of its current bull cycle, as multiple analysts point to historical data and market indicators suggesting a potential breakout. Market participants are closely watching macroeconomic events, options expiry, and long-term holder behavior as Bitcoin hovers near $104k after briefly touching a new all-time high of $111,970 in May.
Analysts Suggest Bitcoin Cycle Is Nearing Its Peak
Crypto analyst Michael van de Poppe noted that Bitcoin has absorbed most of the liquidity from recent corrections.
He believes that current levels may mark the end of the downward movement. “Bitcoin is about to break back higher, as we’ve taken all the liquidity and it’s quickly being absorbed,” van de Poppe said.
#Bitcoin is about to break back higher, as we’ve taken all the liquidity and it’s quickly being absorbed.
— Michaël van de Poppe (@CryptoMichNL) June 6, 2025
Another analyst, Jelle, referenced past market cycles, stating that previous bull markets each lasted exactly 152 weeks. If that pattern continues, the current cycle could end in about 20 weeks. “If that pattern repeats, we have 20 weeks of bull market left,” he posted.
At press time, Bitcoin is valued at $104,786 and has risen by 1.02% over the last 24 hours.
The price of Bitcoin is up 0.3% over the past week and 6.7% in the past 30 days, according to CoinGecko data. Current sentiment remains cautiously optimistic among analysts tracking historical data and price behavior.
Bitcoin Faces High Volatility Amid Liquidations and Options Expiry
Bitcoin recently dropped to a low of $100,372, triggered by a combination of macroeconomic pressure, liquidations, and political tensions.
Over $1 billion in crypto positions were liquidated in the past 24 hours, including over $900 million in long positions. Data from CoinGlass confirms this was the largest long liquidation since February 25.
One trader lost over $16 million in a single liquidation, according to Lookonchain. The largest order was a $10 million liquidation on BitMEX. Long-term holders also continue to sell, contributing to downward pressure on Bitcoin’s price.
Meanwhile, $3.8 billion in Bitcoin and Ethereum options are set to expire. Around 30,000 BTC options with a value of $3.21 billion will expire today, with a put-call ratio of 0.70. The max pain point is currently at $105,000, above Bitcoin’s current price, suggesting many traders are facing losses.
While the Federal Reserve is expected to hold interest rates at its upcoming June 18 meeting, there remains speculation about potential cuts later in the year.
The CME FedWatch Tool shows a 97.5% probability that rates will remain between 4.25% and 4.50% for now. However, expectations for a cut in September are rising, with a 54% chance of a 25-basis-point decrease.
A softer U.S. jobs report, due today, could influence this timeline. The report is forecast to show the addition of 130,000 jobs in May, with the unemployment rate holding steady at 4.2%. A weaker report may increase the likelihood of earlier rate reductions, which some analysts believe could support Bitcoin’s upward momentum.
Political Tensions Add Further Pressure
Tensions between Donald Trump and Elon Musk have added new uncertainty to financial markets.
Musk criticized Trump’s tariff policy, warning it could trigger a recession later this year. Trump responded by threatening to cut Musk’s government contracts, prompting Musk to suggest shutting down SpaceX’s Dragon spacecraft program briefly.
The Trump tariffs will cause a recession in the second half of this year https://t.co/rbBC11iynE
Bitcoin’s fall below $102,000 came as long-term holders continued to take profits. Glassnode reported that holders who accumulated Bitcoin more than 155 days ago are gradually exiting positions. The analytics firm stated that without a strong price catalyst, further corrections may follow.
This articles is written by : Nermeen Nabil Khear Abdelmalak
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