Crypto analyst Merlijn has labeled the recent Bitcoin price crash to $91,000 as the biggest bear trap of the 2025 bull cycle. The drop, sparked by concerns over trade tariffs, was quickly reversed as Bitcoin reclaimed the crucial $100,000 level.
This bear trap is reminiscent of similar events in the 2017 and 2021 bull runs, suggesting that Bitcoin and other cryptocurrencies are primed for further upside. The recovery above $100,000 has reignited optimism in the market, with altcoins following Bitcoin’s lead.
Technical analysis indicates that a successful daily close and retest of the $101,000 level could pave the way for a rally to $103,000 and beyond. The next major resistance lies around $106,148. Additionally, a continuation pattern highlighted by analyst Titan of Crypto points to a potential move as high as $117,000 in the short term.
The bullish trend remains intact as long as Bitcoin maintains a monthly close above the 38.2% Fibonacci retracement level. With renewed optimism, FOMO, and euphoria still on the horizon, this bull cycle appears far from over.
As the cryptocurrency market digests the implications of the recent bear trap and subsequent recovery, investors and traders should remain vigilant for further volatility. However, the overall sentiment remains positive, with many analysts anticipating significant upside potential in the coming weeks and months.
Tags: Bitcoin price, bull cycle, bear trap, market optimism, technical analysis
Source: https://www.newsbtc.com/news/bitcoin/bitcoin-price-crash-to-91000/