Prominent crypto analyst “Crypto Rover” asserts that the Bitcoin top is not yet in.
Following Bitcoin‘s impressive run in Q4 2024, its price has largely stalled save for a mild run in the days leading up to President Donald Trump’s inauguration. Despite this price action, analysts maintain that the asset’s price has not hit a cycle top and still has room to grow.
This view has again been reiterated amid recent market volatility brought on by Trump’s recent tariff decisions.
Halving to Cycle Peak
Prominent crypto analyst “Crypto Rover” has asserted that the Bitcoin top is not in yet.
The analyst expressed this view in a recent X post, citing the Dune Analytics “Halving to Cycle Peak” chart by Hashdex Research Lead Lucas Santana. The chart shows how long it took Bitcoin to reach a cycle top after each halving.
Halving to Cycle Peak chart Source Dune
The halving refers to an event that occurs roughly every four years, which reduces Bitcoin’s issuance through mining rewards by half.
Per the chart, Bitcoin has typically topped out over 500 days after this event. In the second cycle, it was 524 days, and in the third, it was 545 days. At just 290 days past the last halving, which occurred on April 19, 2024, Crypto Rover believes that the asset’s price still has significant room for growth.
He is, however, not the only analyst to reiterate this view in recent times. On Tuesday, February 4, prominent trader “IncomeSharks” suggested that Bitcoin may be gearing up for another significant leg up in the coming days, citing the asset’s historical price action following the U.S. presidential elections.
Historically, the asset has witnessed a correction in January following the election, but the market expects another leg up in February. The analyst further suggested that this time, the asset likely has an additional catalyst in the form of Trump’s pro-crypto agenda.
BTCUSD daily candle chart showing post election price action Source IncomeSharks
Beyond the historical price action, IncomeSharks has also asserted that Bitcoin is showing significant strength, citing the On Balance Volume, a technical analysis indicator used to gauge buying and selling pressure.
Bitcoin OBV Chart Source IncomeSharks
According to the analyst, buying pressure has become stronger following the recent tariff-triggered drop and is now at levels not seen in a long time.
However, Bitcoin is trading just above the $99,000 price point at the time of writing.
