
Uncertainty over Bitcoin’s (BTC) next all-time high is growing among retail traders during a volatile stretch for crypto markets, a Stocktwits poll indicated on Monday.
While most retail traders on the platform expect Bitcoin’s next all-time high in March, the spread across other timeframes was narrow. The poll showed 33% of retail traders targeting March, while 28% see a potential peak as soon as December and 27% expect it closer to June.
Bitcoin’s price traded just over $86,000 on Monday night, down over 4% in the last 24 hours. On Stocktwits, retail sentiment around the coin dropped to ‘extremely bearish’ from ‘bearish’ territory over the past day, as chatter remained at ‘low’ levels. Currently, Bitcoin’s price is more than 30% below its record high of over $126,000, seen in October earlier this year.
One user on Stocktwits said that Bitcoin is likely to “implode” as the market heads into the next recession.
Another user commented that Bitcoin’s next record high is not likely to happen anytime next year, but in 2028 instead.
The community correctly predicted last month that Bitcoin would close under the $100,000 market on December 1. The cryptocurrency has been unable to reclaim that level so far this month.
Market observers remain divided on what comes next. Some analysts argue that a new Bitcoin bear market is underway. Veteran trader Peter Brandt has said Bitcoin could fall toward $25,000 based on historical drawdowns. Others, including Arthur Hayes, Bitmine Immersion Technologies (BMNR) chairman Tom Lee, and ARK Invest’s Cathie Wood, argue that Bitcoin’s traditional four-year cycle has broken down, potentially altering past price patterns.
Traders are currently waiting for the Bank of Japan’s (BOJ) expected rate hike on Friday. A Nikkei report on Sunday said Japan’s central bank is poised to raise rates for the first time in 11 months, potentially pushing borrowing costs to levels not seen in three decades. On X, several analysts warned that a BOJ rate hike could reignite volatility in crypto markets, pointing to past episodes in which Bitcoin suffered sell-offs of roughly 27% to 30% following similar policy shifts.
Read also: Paul Atkins Warns Crypto Risks Becoming ‘Most Powerful Financial Surveillance Tool Ever Invented’
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.