Bitcoin’s recent retreat from a record-breaking $126,200, per CoinMarketCap, hasn’t shaken bullish analysts, with one predicting the next peak could go as high as $400,000. The flagship cryptocurrency briefly hit a new all-time high on October 6 before dipping below $124,000, but market sentiment remains upbeat as traders brace for what could be another explosive cycle. The Case for a Historic Breakout According to market watcher EGRAG CRYPTO, Bitcoin is forming a clear channel on its three-month chart, a pattern that has occurred in the past and has been followed by a market breakout. “In the past three cycles, we’ve consistently seen a breakout at the end of these channels, the analyst noted on X. “While diminishing returns are evident, they are necessary for a more sustainable price growth.” He said that even a “small blip” could push BTC up to $175,000, adding that the middle of the predicted channel is about $250,000, and the top of it is about $400,000. “These numbers are definitely within reach,” stated EGRAG. Although Bitcoin has experienced a recent decline, it has remained strong over longer periods. It has gone up 7.0% in the last week and 96.8% in the last year. Observers like Michaël van de Poppe think that the market is getting ready for its next big rise, and any drop below $121,000 is a good time to buy. Navigating Immediate Market Uncertainties But not everyone sees a clear path ahead. Analyst JA Maartun has said that the open interest in both Bitcoin and altcoins is still high. This is something that hasn’t happened since December 2024, when prices stayed the same for months before dropping by more than 30%. Similarly, pseudonymous trader Titan of Crypto cautioned that BTC’s short-term charts are flashing mixed signals, suggesting that a drop toward the Ichimoku cloud is possible if key resistance levels hold. As such, the current market is defined by the tension between a powerful long-term technical pattern and near-term overextension indicators. But the overall mood is still good, mostly due to widespread institutional adoption through ETFs and holders being overwhelmingly in profit. Still, traders are being told to keep a close eye on these conflicting signals because the road to possible six-figure valuations may not be a straight line, but could be punctuated by periods of volatility and consolidation. The post BTC Price Prediction: Analyst Eyes $400K Peak, Here’s When appeared first on CryptoPotato .
