Source: Golden Ten Data

As Bitcoin rebounded above $64,000 per coin, investor sentiment reversed again, shifting again from fear to greed.

After hitting a low of around 56,800 US dollars last Wednesday, Bitcoin has risen strongly by nearly 10% over the weekend. As of press time, it reached the 64,000 US dollars/coin integer mark, recovering from the previous week's decline.

On Friday, US spot Bitcoin ETF funds again recorded a net inflow of $370 million, particularly the Grayscale Bitcoin Trust. This became a positive catalyst for Bitcoin's price movement. Although the “massacre” in the coin industry earlier last week made cryptocurrency investors lose a lot of confidence. However, just as fast as the Bitcoin market returned, investor confidence seemed to quickly recover over the weekend.

According to Alternative's Fear and Greed Index, market sentiment changed from “greed” to “fear” last Wednesday, remained neutral the next day, and turned “greedy” again over the weekend. Driven by Bitcoin, other altcoins also experienced a recovery. The overall market value of cryptocurrencies reached 2.34 trillion US dollars, growing 5.11% in 24 hours.

Although there is still uncertainty about the current Bitcoin adjustment market, historically, this period has provided favorable buying opportunities. Some analysts believe that Bitcoin's price is expected to rise sharply, mainly for the following reasons.

The first is the massive purchase of “giant whales.” Despite the recent drop in Bitcoin's price, “giant whales” took advantage of this opportunity to “cut the bottom” a lot. CryptoQuant CEO Ki Young Ju reports that the Bitcoin “giant whale” has accumulated more than 47,000 bitcoins in 24 hours. This accumulation suggests that the recent price correction (Bitcoin falling below the $60,000 psychological barrier) was viewed by them as a buying opportunity.

Second, the historical price cycle after halving is expected to be repeated. Technical analyst Rekt Capital notes that historically, Bitcoin experienced a brief “danger zone” after being halved before continuing to rise. He pointed out that the recent adjustment was one of the longest market adjustments in the current cycle, lasting 49 days, but he sees this as a bullish sign from mid-September to mid-October 2025.

He pointed out that in the 2015-2017 cycle, Bitcoin peaked 518 days after being halved; in the 2019-2021 cycle, Bitcoin peaked 546 days after halving. He predicts that if history repeats itself, the next peak of the bull market will occur on the 518-546 day after the halving, which means the peak of the current cycle may be reached in mid-September or mid-October 2025. He said that the longer it takes for Bitcoin to consolidate after halving, the better the effect of overlapping the current cycle with the historical halving cycle.

The third is the benefits brought about by the macro environment. BitMEX founder Arthur Hayes predicted in a recent blog post that Bitcoin will regain momentum as market conditions improve, particularly after the US tax season and other temporary market pressures (such as speculation surrounding the Federal Reserve's interest rate decision, Bitcoin halving, and ETF demand) subside. The latest US employment report shows that the new non-farm payrolls and unemployment rate are weaker than market expectations, and the relative weakness of the job market may prompt the Federal Reserve to speed up the pace of interest rate cuts.

He said that “invisible printing” and adjustments to the Federal Reserve's policy and the US Treasury's policy have increased the appeal of non-statutory assets such as Bitcoin. He predicted that the price of Bitcoin would first rise above $60,000 and then stabilize in the $60,000-$70,000 range until August.

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