The Bitcoin bull market could end within 10 days, veteran trader Cryptobarb has warned, citing cycle data.
CryptoBirb’s model predicts October 24th as Bitcoin’s next major cycle peak is rapidly approaching.
The Fear and Greed Index has fallen sharply, indicating a sentiment reset ahead of a possible final rally for Bitcoin.
Bitcoin traders are on edge as the market nears the final stage of this bull run. Veteran trader CryptoBirb warns that the current Bitcoin rally is 99.3% complete, with only 10 days left until the cycle peak.
This period could decide whether Bitcoin makes one last big rally or enters a new bear market.
Bitcoin bull market nears end of cycle
CryptoBirb explains that it has been 1,058 days since Bitcoin last hit a big bottom, which means this bull market is nearing the end of its normal cycle. His model, called the “Cycle Peak Countdown,” points to October 24th as the likely date for the next big peak.
In past cycles, Bitcoin typically peaks between 518 and 580 days after a halving. Currently on day 543, we are in the middle of the peak zone.
“We’re not just nearing the top,” Barb says. “We are already in the same window where major Bitcoin peaks have occurred in the past.”
However, the recent fall in Bitcoin price from $126,300 ATH to $102,560 is seen as a sign of the healthy corrections that often occur to weed out weak holders before a big rally.
Technical indicators indicate a pre-peak reset
Technical indicators support this view, with the Fear and Greed Index dropping from 71 to 38 and the RSI dropping to 45. These indicators suggest that sentiment is resetting and the foundations are being formed for a possible eventual rally.
On-chain indicators also showed some cooling, with NUPL falling to 0.522 and MVRV falling to 2.15, reflecting recent profit-taking.
On the other hand, organizational behavior also deserves attention. Inflows to Bitcoin ETFs changed from +$627 million to -$326.4 million, while outflows to Ethereum ETFs were $428.5 million. Experts interpret this as smart money locking in profits before retail FOMO drives the rally.
October 24th – Moment of victory or defeat
Historically, the period from October 20th to November 5th marks the peak zone of the Bitcoin cycle. As important dates like October 24th approach, traders should expect increased volatility and the potential for explosive moves.
At the moment, BTC is trading around $112,281, reflecting the 3% decline seen over the past 24 hours.
