Oh dear, the Bitcoin (BTC) price has ended March in a frightful state of indecision, rather like a debutante unsure which suitor to accept. Short-term holders are at odds with their long-term counterparts, a bit of a kerfuffle, if you will. And now, those reciprocal tariffs from the United States have global investors in a tizzy, whispering about a possible U.S. recession… how dreary.
As we sashay into the second quarter of 2025, all eyes are on the anticipated pas de deux between Bitcoin and Gold (XAU). Gold, the savvy thing, has been recording quite the gains since December, while BTC and the altcoin market were stuck in a bearish funk, poor dears.
The 2025 Bitcoin Rally: Finito?
Quinn Thompson, the founder of crypto hedge fund Lekker Capital, has sounded the alarm, suggesting Bitcoin’s price might take a tumble below $60k. Thompson predicts a bearish environment, rather reminiscent of the 2022 market outlook. How… thrilling.
“I could see us going back to a five handle by the end of the year,” Thompson noted with all the excitement of a sedated sloth.
According to Thompson, the White House’s announcement about creating a strategic BTC reserve and Congress’s regulatory framework is, well, a bit of a snooze-fest – a sell-the-news event, if you will.
“I don’t think it happens quickly, which is why it would be very painful and shocking to people… It’s this slow grind down that is almost more unbearable for people because they’re like, ‘Is it over? Is the bottom in?” Thompson added, with all the drama of a Shakespearean soliloquy.
The Bigger Picture (or so we hope)
Now, considering Bitcoin’s diminishing returns over the years (oh, the humanity!), technical analysis suggests a potential parabolic rally before the year’s out. And, might I add, Bitcoin’s monthly Relative Strength Index (RSI) hasn’t reached a peak of 90 in the past year, unlike during those three previous major bull markets… a glimmer of hope, perhaps?
Moreover, those stalwart long-term investors, led by Strategy (formerly MicroStrategy), continue to accumulate more Bitcoins, hedging against inflation and market uncertainty. Because, really, what’s a little uncertainty among friends? 😏
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2025-04-01 11:27