History Suggesting Bitcoin Entering Next Phase of Price Discovery to New Highs: Crypto Analyst

Widely followed crypto analyst Rekt Capital says that Bitcoin (BTC) is likely undergoing one of its final consolidation phases before making a run to new all-time highs.

The pseudonymous trader tells his 536,000 followers on the social media platform X that Bitcoin has already completed its first state of upward price discovery uptrend, and that another bullish phase is on its way once support is established.

“BTC is trying to trend reverse out of its 1st Price Discovery Correction

History suggests over the next few weeks…

Bitcoin should be able to embark on its 2nd Price Discovery Uptrend to new highs.”

Rekt Capital says that Bitcoin needs to begin closing above the $97,700 level in order to begin its next move.

“Bitcoin continues to enjoy price stability at the blue diagonal trendline support which is a positive

However, BTC needs a Daily Close above ~$97700 (light blue) and/or reclaim said level as support to build on its momentum towards $101k (black)”

Source: Rekt Capital/X

According to the analyst, the flagship crypto asset’s bull market should continue for the rest of the year before entering a bear market in 2026, when it could crash up to 80%.

“2025 will likely see the BTC Bull Market peak & the beginnings of a brand new Bear Market (Candle 1)

The majority of the Bear Market will take place however in 2026 (Candle 2)

The Bear Market would last some 365+ days and be between -65% to -80% deep.”

Source: Rekt Capital/X

Generated Image: Midjourney

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