Bitcoin is in a volatile position, with 10 times more research warning that the market is showing signs of a wider collapse.
In a report released on March 11, the company’s research director Markus Thielen warned traders to write more downsides, predicting Bitcoin would slide to $73,000.
“This is a time when risk management is critical, where recognizing historical similarities, analyzing chart patterns and closely monitoring market structures,” writes Tyren. He emphasized that it can accelerate quickly when losses worsen and encourage investors to pay attention.
Thielen noted that the current cycle has impressive similarities to the end of the previous code bull market. He compared the situation today with the market situation he saw in 2017 and 2021. There, the biggest promoters hyped the market with catchy slogans and promoted the promise of unlimited benefits as they were reconstituted as a feature when prices collapsed.
“In 2017, Ripple’s XRP skyrocketed, becoming the second largest cryptocurrency by market capitalization,” he said. “However, in the 2021 Bull Run, XRP was unable to regain its position. It evolved from 2017 payments to 2021 coins, and now the same pattern appears to 2025 meme coins.
Over the past seven days, Bitcoin prices have fallen 13.76% compared to a month ago.
The strategic spare executive order, which emphasized that rather than planning to buy more Bitcoin previously purchased, is probably the main cause.
The lack of purchasing pressure for new institutions has weakened investors’ sentiment and has led to sales pressure.
However, on-chain data and Bitcoin price action refer to a pivotal turning point in the current market cycle, with creepy similarities to past bull market peaks.
At the time of writing, Bitcoin has hovered at $83,000, an increase of 5.5% over the past 24 hours.
Tyren also highlighted the sharp decline in Solana, noting that it is now down 59% from its peak. Cryptocurrency is currently struggling to hold support in the $120-$130 range, and the break below can cause further losses.
“Not only is the place where the Fed became Hawkish near the peak of the Bitcoin cycle, but it’s not just the familiar macro background, but there are microdynamics as important stories fade away,” he explained.
The Vinanence BTC/USDT Clearing Heatmap shows the liquidity area just south of the $75,000 mark.
