- Bitcoin has dropped nearly 11% from Monday’s highs of $96,500 to three-month lows below $87,000 amid heightened macroeconomic and geopolitical concerns.
- Highly followed analyst Titan of Crypto contends that Bitcoin remains in a bullish market structure.
- Titan of Crypto forecasts an explosive move with a target above $125,000, representing over 40% upside potential from the current price of around $87,800.
Despite the recent market turmoil and an 11% decline from Monday’s peak, prominent analyst Titan of Crypto insists that Bitcoin’s underlying bullish structure remains intact. In an X post on Monday, February 24, Titan of Crypto highlighted that Bitcoin is still trading in line with a bullish inverse head and shoulders chart pattern on its weekly chart—a breakout that began in Q4 2024.
“The next BTC move could be explosive,” he enthused, with his analysis pointing to a main target above the $125,000 level. At the current price of about $87,800, this target implies an upside potential of over 40%.
Some Bitcoin analysts support the view
Other voices in the crypto space support this bullish outlook. Prominent analyst Don Alt described the recent dip on Tuesday, February 25, as merely a test of the range lows on the weekly chart, suggesting that a close above these lows could trigger a bounce next week. Similarly, the advisory from ZeroHedge cautions investors not to be shaken by the current turbulence, noting that Bitcoin is replicating its 2017 run and still has ample room to grow.
Supporting these optimistic views, crypto analytics firm CryptoQuant has reported that whales are actively buying the dip, with 26,430 BTC worth over $2 billion flowing into accumulation addresses. This influx of whale activity is seen as a positive signal for the market’s long-term strength.
However, amid the sea of bullish sentiment, Standard Chartered’s Head of Digital Asset Research, Geoffrey Kendrick, has urged caution. Kendrick anticipates a further decline in Bitcoin’s price closer to the $80,000 level, advising investors not to rush into buying the dip just yet.
