You Have 2 Weeks to Take Profit, Bitcoin’s Bull Run is Ending (Analyst)

Fear & Greed Index expected to cross 80, a classic sell signal from past cycle tops, with nearly all BTC supply now sitting in profit.

Bitcoin (BTC) reached a new all-time high of almost $126,000 over the weekend, continuing its long-term rise in price.

But a well-known market analyst is now warning that the current bull cycle will only last for about two more weeks, which means that investors have a short amount of time to lock in profits before a possible downturn.

A Final Push to New Highs

According to on-chain analyst Gigi Sulivan, the cyclical nature of Bitcoin points to a bull market conclusion around October 20. This projection, calculated from the April 2024 halving event, aligns with a historical pattern of bull phases lasting approximately 546 days.

“Whether you want to believe it or not, considering we are seeing another push into ATH, those next 2 weeks are likely your best shot at taking profits and then waiting patiently around 12 months for nice low prices to re-enter the market during Bear phase,” Sulivan advised.

Despite Bitcoin’s latest upward momentum, the analyst suggests the anticipated top of $150,000 to $200,000 appears less probable given the limited time left.

“I am expecting to see Fear and Greed Index to pop over 80 just like in the last days of Bull in Nov 2021,” they noted. “Take it as a very strong Sell signal, especially when paired with Supply % in profit running almost at 100%.”

Supporting this cautious stance, recent on-chain data from fellow analyst CryptoOnchain revealed a significant withdrawal of $4 billion in stablecoins from exchanges since September 22, with Binance responsible for 75% of the movement. The expert suggests that it likely means many people are taking profits, which reduces the amount of money available to buy things immediately. This makes the market more open to consolidation or correction.

Still, some reports are calling for higher peaks. For example, analysts from The DeFi Report recently stated that the four-year cycle framework remains in place and that BTC could reach a price between $160,000 and $170,000 by the end of 2025. Their research indicated that there is still potential for further upside before a cycle top is confirmed, as evidenced by the high profit realization and the still-high MVRV-Z score.

Price Action, Cycles, and Outlook

At the time of this writing, Bitcoin was trading at $123,648, down 1.1% in the last 24 hours. However, the leading cryptocurrency is still 10.6% higher on the week, 11.6% above its level a month ago, and nearly double its price from the same time last year.

You may also like:

Over the past seven days, BTC has ranged between $111,656 and $125,361, with its latest pullback placing it approximately 1.6% below Sunday’s all-time high.

Meanwhile, a recent report by CoinGecko shows that each halving cycle has historically delivered smaller gains. The study found that the 2017 run yielded the highest returns, at 29 times the amount invested, while the 2021 run had the lowest returns, at 6.7 times the amount invested.  The current cycle has not yet reached 100% gains, suggesting that the upside may be leveling off, even as new records are set.