"Now Is the Last Chance"... Bitcoin Activates $500,000 Scenario After Six-Month Plunge

▲ Bitcoin (BTC) surge / AI-generated image

Bitcoin (BTC) has recorded an unusual streak of six consecutive monthly declines for the second time in its history, heightening market fear, while on-chain data suggests the potential for a major long-term rally.

In a video released on March 29 (local time), cryptocurrency-focused YouTube channel Altcoin Daily analyzed that although Bitcoin posted six straight monthly bearish candles for the first time since 2018, it is more likely to represent a historic bottom zone. They explained that while $67,000 in 2021 signaled overheating, the same $67,000 level in 2026 is closer to an oversold zone. The monthly Relative Strength Index (RSI) is also showing patterns similar to those seen just before four previous major bull runs, while long-term holding wallets are rapidly accumulating. At the same time, roughly $12 billion in short positions is increasing the likelihood of a strong short squeeze.

The market is also focusing on the decline in Bitcoin inflows to exchanges, which have dropped to around 25,000 BTC. This is interpreted as a significant reduction in selling pressure, suggesting that supply-side conditions for a price increase are forming. Jeff Kendrick, Head of Digital Assets Research at Standard Chartered, projected that Bitcoin could reach $500,000 by 2030, describing the current phase as an energy accumulation stage before an upward surge.

Ethereum (ETH) is being evaluated as having greater upside potential than Bitcoin. As major institutions such as BlackRock expand asset tokenization on Ethereum’s Layer 1, structural changes in the real-world asset market are accelerating. The tokenized money market fund sector, currently valued at around $10 billion, is expected to grow to $2 trillion by 2028, with Ethereum positioned as the core network infrastructure. Accordingly, projections suggest Ethereum could reach $40,000 by 2030.

Fundstrat strategist Tom Lee assessed the current market as being on the verge of transitioning into a bull market. He predicted that the downtrend could end by April at the latest, ushering in a new upward phase. He also emphasized that periods of widespread market fear may instead present accumulation opportunities.

Despite the ongoing price correction, the market is undergoing structural changes as institutional accumulation trends remain intact.

*Disclaimer: This article is for investment reference only and we are not responsible for any investment losses resulting from its use. The content should be interpreted for informational purposes only.*