Crypto analyst Merlijn has described the Bitcoin worth crash to $91,000 as a significant bear entice as optimism returns to the market. The flagship crypto had dropped to this stage following a wave of weekend sell-offs however has since recovered above the psychological $100,000 level.
Bitcoin Price Crash To $91,000 Termed “Biggest Bear Trap”
In an X post, Merlijn described the Bitcoin worth crash to $91,000 because the “biggest bear trap of this cycle.” The analyst famous that this occurred within the 2017 and 2021 bull runs and has now occurred on this 2025 bull cycle. He is optimistic that Bitcoin and different crypto are effectively primed to rally to new highs, remarking that each main bull run had a remaining bear entice earlier than sending it.
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The Bitcoin worth had crashed to $91,000 following a wave of sell-offs, which was sparked by Donald Trump’s tariffs on Mexico, Canada, and China. This raised considerations a couple of commerce conflict as Mexico and Canada moved to announce tariffs on imports from the US in retaliation. However, this turned out to be a bear entice, as BTC shortly reversed its weekend loss on Monday.
The Bitcoin worth reclaimed $100,000 because the US, Mexico, and Canada agreed to a one-month pause on these tariffs. The rally to the psychological $100,000 stage has once more sparked optimism within the crypto market, particularly with altcoins rebounding alongside the flagship crypto. Merlijn warned market contributors that they will both select to get shaken out or be positioned for the most important transfer but.
Merlijn additionally shared a chart that confirmed that the bull cycle is way from over. Based on the chart, the Bitcoin worth will nonetheless undergo the renewed optimism, FOMO, and Euphoria part earlier than it tops on this cycle.
What’s Next For BTC?
In an X publish, crypto analyst Rekt Capital said that the Bitcoin worth must report a each day shut above $101,000 and retest it efficiently to reclaim it into help. He added {that a} profitable reclaim of this worth stage might result in an uptrend continuation, with BTC rallying to round $103,000. Based on the accompanying chart he shared, the following essential resistance for the Bitcoin worth is round $106,148.
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Crypto analyst Titan of Crypto asserted that Bitcoin’s bull market remains to be intact. According to him, the bullish development stays legitimate so long as BTC holds a month-to-month shut above the 38.2% Fibonacci retracement stage. In an X publish, he highlighted a continuation sample that might ship the Bitcoin worth as excessive as $117,000 within the quick time period.
At the time of writing, the Bitcoin worth is buying and selling at round $99,500, up over 5% within the final 24 hours, in accordance with data from CoinMarketCap.
Featured picture from Unsplash, chart from Tradingview.com
