Bitcoin dipped to $103,450 yesterday, wiping out about $1 billion in leveraged bets over the past 24 hours. Many traders hurried to sell, but the fall was short-lived.
Bitcoin found its footing and climbed back to $104,400 by the time this report was filed. According to a recent analysis by crypto researcher Klarch, this pullback was expected and might just be a pit stop before another run to fresh highs.
Recurring Cycle Patterns
Based on examination by Klarch, Bitcoin tends to follow a familiar path after each halving. One year after the 2016 halving, it rose about 280%. After the 2020 halving, it jumped roughly 550% in 367 days.
Right now, Bitcoin has only moved up around 70% in the 416 days since the last halving. Klarch points out that in past cycles, these numbers picked up speed after a slow start. So, he says, there’s still room for more growth.
Bitcoin cycles are identical…
– In 2016, $BTC grew by 280%, 365 days after Halving
– In 2020, $BTC grew by 550%, 367 days after Halving
– Now, 416 days post-Halving, $BTC +70% — growth ahead…History repeats, here’s $BTC’s near future🧵👇 pic.twitter.com/wshX4egwbC
— Klarck (@0xklarck) June 5, 2025
These percentages matter because they hint at what might come next. If Bitcoin’s history repeats, the best gains could be just around the corner. Information from blockchain data supports this too.
For example, trading volume and on-chain addresses hit new highs in recent weeks. That fits the pattern Klarch described—after the initial rise, there’s often a bigger rally.
Signs Of The Next Surge
Bitcoin set a record of $112,100 on January 20, then edged up to $111,980 on May 22. Rather than signaling an end, Klarch believes these milestones mark the start of a higher peak. He sees those moves as part of the cycle’s build-up, not its climax. Based on his chart work, each cycle has multiple tops before it finally tops out.
Klarch didn’t offer an exact date for a new peak, but he did suggest that Bitcoin has not yet hit its ceiling. He notes that a series of all-time highs usually happens when sentiment is still turning positive. Once more traders feel FOMO, the price often accelerates rapidly.
Demand And Liquidity Driving Price
Liquidity pouring into the crypto market has been a key talking point. Klarch says that steady buys from institutions and US Bitcoin spot ETFs have made Bitcoin scarcer on exchanges.
Michael Saylor’s Strategy and other big money players keep buying, which pushes supply lower. Based on figures presented by Klarch, this trend could lift Bitcoin to around $180,000—a rise of about 75% from current levels.
VanEck, an asset manager, has shared a similar target. That makes Klarch’s outlook feel less like a lone voice. If big funds keep moving in and retail interest stays high, Bitcoin’s price might stay on the upswing. However, any pause in ETF inflows or a sudden shift in global markets could change that story.
Featured image from Imagen, chart from TradingView