Bitcoin recently pulled back below the $118,000 level, sparking fresh concerns among traders and analysts about the trajectory of the ongoing bull cycle. As of the latest data, Bitcoin is trading at $117,368, having declined 1% in the past 24 hours. This downward movement coincided with the release of hotter-than-expected U.S. inflation data, triggering a broader risk-off sentiment across financial markets [1].
The sell-off was severe, with over $1 billion in leveraged positions liquidated within 24 hours. More than 218,000 traders faced losses as BTC dropped from $122,000 to an intraday low near $117,000, highlighting the fragility of bullish sentiment amid macroeconomic uncertainty [1]. Analysts on X have been particularly vocal about the implications of this price action.
Notably, veteran trader Peter Brandt warned that there is a 30% chance that Bitcoin has already topped in the current bull cycle [1]. According to Brandt, if the price has indeed reached its peak, it may drop to the $60,000–$70,000 range by November 2026 before launching into a new bull phase that could push the asset toward $500,000 [1]. His prediction contrasts with more optimistic views from other analysts who believe the bull cycle is still intact and could extend into late 2025.
Colin Talks Crypto, for example, outlined a model based on Bitcoin’s historical cycle lengths, suggesting that the current cycle may last up to 37 months—longer than the previous three cycles, which averaged 24 to 33 months [1]. His analysis points to a potential peak on December 22, 2025, with Bitcoin reaching approximately $200,000. This view is supported by the observation that Bitcoin price spikes often follow halving events and are characterized by extended, slow price increases.
On a shorter timeframe, Daan Crypto Trades noted that Bitcoin has been consolidating within a narrow range of $117,000 to $119,000 [1]. According to his analysis, the cryptocurrency has found support at the 4-hour 200MA and a high-volume node, suggesting that it may remain in this range for weeks before making a more decisive move. This consolidation phase could offer altcoin traders an opportunity to capitalize while Bitcoin stabilizes.
The bull run, which hit a high of $108,135 on December 17, 2024, has been fueled by strong institutional interest and a widening demand-supply imbalance [2]. However, the recent pullback has reignited debates about whether the market is entering a correction phase or merely taking a breather ahead of a new rally. Analysts remain divided, with macroeconomic signals adding to the uncertainty.
The volatility in Bitcoin has also had a ripple effect on other major cryptocurrencies. XRP, for example, saw a recovery from $3.05 following the liquidation storm, with some analysts identifying a potential target of $5 based on chart patterns [3]. However, others have raised concerns about downward pressure, especially after whale wallets significantly reduced their XRP holdings, signaling caution among large investors [4].
Meanwhile, Binance Coin (BNB) has experienced significant price movement over the past month, rising 42% from a low of $580 in May 2025 to a recent high of $868.68 [5]. Analysts are closely watching the $788–$800 support level, with a breakdown potentially leading to renewed selling pressure toward $750. Conversely, a successful breakout above $870 could indicate a fresh wave of institutional buying and push the asset closer to $900 [5].
As the market continues to navigate this period of uncertainty, investors are keeping a close eye on both technical indicators and macroeconomic developments. The price action in Bitcoin and other major assets reflects an ongoing tug-of-war between bullish optimism and caution in the face of shifting global economic conditions [1].
Source:
[1] title: Analyst Sees 30% Chance Bitcoin Bull Run Has Peaked (https://www.cryptotimes.io/2025/08/16/analyst-sees-30-chance-bitcoin-bull-run-has-peaked/)
[2] title: When Will the Crypto Market Bull Run Begin in 2025? (https://coindcx.com/blog/crypto-deep-dives/crypto-bull-run-2025/)
[3] title: XRP price prediction: analyst predicts $5 as markets … (https://crypto.news/xrp-price-prediction-analyst-predicts-5-as-markets-weather-liquidation-storm/)
[4] title: XRP Showing Downward Signals, Traders View LBRETT … (https://crypto-economy.com/xrp-price-prediction-xrp-showing-downward-signals-traders-view-lbrett-as-prime-avenue-for-growth/)
[5] title: BNB Price Consolidates Near $825, Key Test Levels To … (https://www.cryptotimes.io/2025/08/16/bnb-price-consolidates-near-825-key-test-levels-to-watch-out/)
