A cryptocurrency market expert reports that Bitcoin (BTC) has just formed its most bullish signal amid the ongoing bear market trend. According to the analyst, this technical signal could potentially be the catalyst for a major bullish shift Pushing the price of Bitcoin to explosive levels.
Analyst reveals Bitcoin’s most bullish signal yet
The price of Bitcoin has reached It rose back above $71,000 After briefly dipping near $68,000 just last week. While the market is still experiencing price volatility and short-term relief rebounds, which many experts consider likely Fake generalitiesCrypto Patel technical analyst subscriber A new signal could lead to a complete bullish reversal for BTC.
In a post on Monday Sharing the price chart, Crypto Patel noted that BTC recorded its longest negative period Correlation with the Standard & Poor’s 500 Index Since 2020. He explained the importance of this connection, noting that Bitcoin is no longer traded as a risky asset.
Crypto Patel also revealed that nearly 70,000 BTC in open interest was recently wiped out during a single liquidation event. This repositions the market to April 2025 levels, effectively removing excess leverage from the system.
Notably, the analyst confirmed that the last time Bitcoin decoupled from the S&P 500 index, a strong bullish rally followed. Based on this historical trend, his analysis suggests a similar rise in Bitcoin prices during this cycle, which could push the cryptocurrency out of the crisis. Its ongoing bear market.
While Crypto Patel maintains a large scale Bullish forecast for BTCOther analysts remain significantly bearish. Market expert Lyvo has to caution Traders and investors on
Psychologically, he explained, many participants had already accepted the idea of this Bitcoin is in a bear market. He attributed this feeling to the formation of lower highs and the continued decline in prices, which occurred gradually Retail sentiment changes. Despite the cautious outlook, Lyvo admitted that the market could still rebound from its current downtrend. However, he also noted that if Bitcoin continues to dump, it could push the market closer to its next bullish phase.
BTC stock analyst long-term price forecast
As for his long-term outlook, Crypto Patel has done it Expected That Bitcoin could reach an ambitious price target of $600,000 by 2029. He shared a potential roadmap for achieving that milestone, using trends from the past cycle to support his bold predictions.
According to the analyst, Bitcoin rose to an ATH of around $68,991 in the last session before falling nearly 77% to $15,470, marking a final bottom. He believes a similar trend could unfold this cycle, noting that Bitcoin reached a peak of over $126,000 in October 2025 and could… The bottom of the next session Around the same month in 2026.
He also highlighted that the 0.5-0.618 Fibonacci retracement level near $50,000-$35,000 on the price chart could be a major accumulation area once BTC reaches its bottoms. After this potential price floor, the analyst expects Bitcoin to see a strong rally and potentially reach a cycle peak between $500,000 and $600,000 sometime between September and October 2029.
Featured image from Adobe Stock, chart from Tradingview.com
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