Analyst: BTC nears critical inflection point, could hit $82K or drop to $48K in 90 days

Chris Sullivan, co-founder of crypto hedge fund Hyperion Decimus, believes Bitcoin is approaching a critical inflection point, CoinDesk reported. He noted that a rare alignment of four proprietary on-chain indicators has occurred for the sixth time in Bitcoin's 15-year history. The previous five instances all marked cycle bottoms. According to Sullivan, while all conditions have been met this time, one final pattern is pending. He predicts that within the next 90 days, Bitcoin will likely either break the key resistance level of $82,000 or experience a capitulation move down to $48,000 before rebounding. He added that despite Bitcoin's sluggish price performance, there are positive signs, including increased wallet activity, a rise in Bitcoin moving off exchanges, and continued strength in network metrics.