Bitcoin Analyst Warns of Potential Structural Weakness in Current Price Movement

A recent analysis by crypto analyst TheOnePct has shed light on potential underlying weaknesses in the Bitcoin price. According to the analyst's observations, the current move above $75,000 could be part of a larger correction that began almost five years ago.

The analyst notes that this correction is structurally consistent with a Flat correction, which would imply that the current trend is inherently corrective and may ultimately lead to a decline in value. This is further supported by the fact that the Bitcoin price has been experiencing aggressive declines, coinciding with the C-wave of a flat correction.

The analyst also suggests that the current C-wave looks terminal in nature, which means that it may be nearing its end and could reverse direction soon. If this is the case, the recovery into the $70,000s may only be temporary, and the price may fall further even after the correction.