Cointelegraph4/28/2026Business
Bitcoin Bears Warn of Further Decline as $250,000 Target Faces Technical, Cycle Headwinds
Veteran trader identifies bearish continuation pattern; halving fractals and midterm election seasonality suggest cycle may have peaked
Quick Look
- Bitcoin trades around $77,000 in late April 2026, down roughly 40% from its October 2025 record high near $126,000.
- Despite bullish $250,000 year-end predictions from Tim Draper and Tom Lee, technical analysis shows a maturing bear flag that could push BTC below $50,000.
- Historical halving cycle patterns suggest the 2025 peak may have been the cycle top, occurring 17-18 months post-April 2024 halving.
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Bitcoin trades around $77,000 in late April 2026, down roughly 40% from its October 2025 record high near $126,000. Despite bullish $250,000 year-end predictions from Tim Draper and Tom Lee, technical analysis shows a maturing bear flag that could push BTC below $50,000. Historical halving cycle patterns suggest the 2025 peak may have been the cycle top, occurring 17-18 months post-April 2024 halving. Analyst Merlijn The Trader points to a recurring 'Sell in May' pattern in US midterm election years, projecting potential 60%+ decline to around $30,000.
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This article was originally published by Cointelegraph.
