Could we be witnessing another bull trap in Bitcoin’s price movement, following the significant increase that saw BTC nearly double in value? There are concerns that this is a repeat of the 2021 bull trap, where BTC broke from the low range and rallied from 28k to 69k. Despite many predicting a rise to 100k, there were bearish divergences, and the price ultimately fell to the low 20s by June 2022. This time, there are even more bullish predictions, with some calling for BTC to reach $1 million within 90 days, and others for 100k.

However, caution is advised, as giant whales have been selling since the low 17s, with retail traders alone driving the price up through small buys. It’s unclear whether BTC has hit its bottom, and there is a good chance that a retest of the lows (15-18k) will occur, even if BTC has bottomed out at 15k (not altcoins). Additionally, a painful recession or black swan events such as a Tether Collapse or SEC crackdown on exchanges could lead to BTC dropping below 10k.

There are several signs of distribution that are flashing, and it’s only a matter of time before we see what’s happening behind the scenes. While there is uncertainty about BTC’s future, one thing is clear: a crash is inevitable, and the longer it’s delayed, the more painful it will be due to the global economy. Therefore, it’s important to be cautious and not get caught up in the FOMO.