Bitcoin’s prolonged sideways movement near $105,000 has sparked comparisons to the 2021 market peak, with concerns growing that history may be repeating itself.
Veteran trader Peter Brandt has drawn attention to the eerie similarities between current price action and the distribution phase that preceded Bitcoin’s dramatic collapse from $69,000 to $15,500 just a few years ago.
Despite strong institutional interest, consistent ETF inflows, and a seemingly bullish macro backdrop, Bitcoin has failed multiple times to break above the $106,000 resistance. Some analysts argue that this repeated rejection could be a sign of market exhaustion, with Brandt suggesting a breakdown could send prices as low as $23,600.
Technical traders are closely watching key levels. Michaël van de Poppe and Ali Martinez have identified $104,000 as crucial support. If it gives way, the next leg down could test $97,000 or even lower. So far, every failed breakout has been followed by sharp pullbacks—reminiscent of the topping pattern in late 2021.
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Still, not everyone is bracing for a crash. Optimists point to the recent “golden cross” on the daily chart—when the 50-day moving average crosses above the 200-day—as a bullish signal. In previous cycles, this pattern preceded large rallies. Some traders believe a breakout above $106,000 could propel Bitcoin toward $150,000 or more.
For now, Bitcoin remains in limbo, caught between bullish sentiment and technical resistance. Whether this is the calm before another bull run—or a repeat of the last major crash—will likely depend on how long the current range holds.
Alexander Stefanov
With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.