Despite the crypto community’s optimism, Bitcoin might be heading towards a prolonged period of stability, suggests Markus Thielen, head of research at 10x Research. In a market note dated April 14, Thielen cautioned that despite predictions of new highs, short-term technical indicators suggest a more reserved outlook.
### Bitcoin’s Momentum Indicates a Late-Cycle Peak
Thielen highlighted concerns using the stochastic oscillator, a gauge for momentum, which currently shows traits indicative of a market peak rather than the start of a bull run. He noted a disconnection between short-term and long-term market signals, emphasizing the evolution of Bitcoin’s market dynamics. “Bitcoin has transitioned from a solely bullish, retail-driven market to one influenced by long-term holders and institutional investors adopting a buy-and-hold strategy,” Thielen explained.
Bitcoin has seen a significant rise, with a 32% increase over the past year, trading around $83,810 at the time of reporting, as per CoinMarketCap data.
Despite the recent rally, Thielen predicts Bitcoin will likely oscillate between $73,000 and $94,000, showing a slight positive momentum. The cryptocurrency had previously reached a record high of $73,679 in March 2024, followed by a period of sideways movement which concluded after Donald Trump’s U.S. election victory in November. Bitcoin’s all-time high of $109,000 was recorded in January 2025, right before Trump’s inauguration.
### Some Analysts Still Forecast a Bullish Future
While Thielen advises caution, other experts like Timothy Peterson and Jamie Coutts from Real Vision remain optimistic about Bitcoin’s potential to reach new highs in the second quarter.
In contrast, Andrew Kang, the founder of crypto venture firm Mechanism Capital, has significantly increased his bullish position on Bitcoin, now holding a $200 million long position. This move reflects Kang’s confidence in an imminent rally.
Bitwise’s Chief Investment Officer Matt Hougan also stands by his December forecast that Bitcoin could hit $200,000 before the end of 2025, citing potential benefits from changes in U.S. trade policy under Trump’s administration. Huogan believes these changes could support decentralized assets like Bitcoin, envisioning a future where Bitcoin and gold become key players in international finance.
Catch the latest on Bitcoin’s market trends: Markus Thielen of 10x Research signals a potential period of consolidation for Bitcoin amidst a mix of caution and optimism in the market. #Bitcoin #CryptoTrends #MarketAnalysis
