- Bitcoin dips below $75k from tariff concerns; trades ~$77k, down 8% weekly
- Analyst Egrag Crypto stays bullish, outlines $97k-$177k+ BTC cycle scenarios
- Context: Egrag’s bullish cycle view clashes with current bearish technical signals
Bitcoin’s price saw significant turbulence this past week, sliding under the $75,000 mark for the second time recently. It currently trades around $77,087.10—down 3% in the last 24 hours and 8.16% over the past seven days.
This volatility comes as global financial uncertainty grows, partly linked to the United States imposing a steep 104% tariff on Chinese goods under President Donald Trump’s administration. Markets reacted with broad sell-offs, pulling down risk-on assets including virtual currencies.
Egrag Crypto: “We Are Still in a Bull Run”
Well-known market analyst Egrag Crypto appears unfazed by the recent dip, stressing that Bitcoin remains comfortably within a bull market structure from a cyclical standpoint.
“As long as #BTC is trending above the 21 EMA, there’s no need to worry,” he posted on X (formerly Twitter), telling investors to zoom out and look at the cyclical nature of the leading digital currency.
The analyst presented three possible scenarios for Bitcoin’s path forward in this cycle based on Fibonacci levels:
- Retracement Stage: Bitcoin could pull back to the Fibonacci 0.702 level—around $97,000. Egrag suggested that during such phases, altcoins typically outperform BTC as capital rotates. This could offer chances for well-positioned traders, assuming disciplined profit-taking.
- New All-Time High: Targeting the Fibonacci 1.618 level, Egrag sees this as a reasonable scenario. If it happens, altcoins could surge, with 10x–20x gains potentially becoming common.
- ATH Expansion Mode: The most optimistic—and volatile—view suggests renewed liquidity, perhaps from money printing or interest rate cuts, could push Bitcoin well past $177K. Altcoins might then enter an explosive phase with potential gains of 30x to 50x for mid-caps, and up to 100x for high-risk small caps.
Egrag’s message to doubters is clear: “You do not comprehend how cycles work and liquidity flow.” He also suggested gold could become an important liquidity source driving the market.
BTC Technicals – Price Analysis
Current technical indicators paint a more cautious picture.
Data from CoinMarketCap shows BTC facing resistance at the 20-day Exponential Moving Average (EMA) around $82,190, along with a notable 34.18% drop in trading volume.
The Relative Strength Index (RSI), a momentum indicator, reads near 35.71, suggesting bears currently have the upper hand in BTC price action. According to these technicals, chances of reaching new all-time highs soon seem low until BTC breaks decisively above $90K with strong volume.
Context: Egrag Crypto’s strongly bullish cycle scenarios rely on long-term patterns and liquidity injections, a sharp contrast to current bearish technical signals (RSI, volume, EMA resistance) and macro uncertainty from trade tensions. This brings out the disconnect between optimistic cycle theory and the near-term market conditions.
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