With the ongoing bullish trend in the crypto market, Bitcoin detractors may find it increasingly challenging to anticipate a near-term price dip. This observation comes from a crypto analyst who suggests that the current pro-crypto macro environment indicates new all-time highs (ATH) for Bitcoin by the end of Q1, 2025.
“The situation is becoming increasingly challenging for the bears. We foresee Bitcoin reaching new heights by the close of this quarter,” stated Pav Hundal, lead analyst at crypto exchange Swyftx, in an interview with Cointelegraph.
Hundal noted that the Bitcoin market has reverted to the volatility levels witnessed around the time of the US elections in November. This was when the initial euphoria kicked in following Donald Trump’s presidential win.
As per the latest data from CoinMarketCap, Bitcoin is trading at $102,470. “Volatility is no longer the dominating factor and could pose a threat to speculators in the short term,” Hundal warned.
“We are in a phase where volatility seems primed to surge, which could prove perilous for both market sides,” he further added.
Prior to the announcement of the US election results, trader uncertainty led to significant liquidations. On the eve of Trump’s victory, crypto market liquidations nearly hit $350 million as Bitcoin’s price briefly fell below $69,000. This coincided with narrowing odds of Trump’s victory on Polymarket.
However, Hundal believes that the crypto market is about to step into “the most favorable policy-making era in crypto history, as apathy starts to gain ground.”
He expressed surprise at the stark contrast between the macro conditions in the crypto world and investor sentiment. On December 14, asset management firm VanEck projected that Bitcoin would reach a medium-term peak in Q1 and hit new highs by Q4 2025.
On the other hand, the crypto community is divided on Bitcoin’s Q1 performance. BitMEX co-founder Arthur Hayes speculates that Bitcoin could potentially retreat to the $70,000 to $75,000 range, possibly triggering a “mini financial crisis.”
Contrarily, Dr. Sean Dawson, head of research at Derive, opined that Bitcoin has less than a 10% probability of falling to the $75,000 level.
