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Analysis: Bitcoin is still in the typical "Four-Year Cycle," with $53,000 likely to be a key support level

2 hours ago

On June 10, Trader Bob Loukas said Bitcoin remains in a "very standard four-year cycle," noting its current price trend isn’t meaningfully different from prior cycles. While many have argued “this time is different,” Loukas maintains this Bitcoin cycle still adheres to the typical four-year cycle framework. He pointed out the current cycle is now in its 44th week, with the cycle’s low point window usually occurring around the 46th week—roughly the 10% milestone for the cycle. Loukas added that the midpoint of past four-year Bitcoin cycles has hovered around $53,000, a level that could act as significant support and resistance, as well as a potential buying opportunity near the bear market low. He also stated Bitcoin may re-enter a price discovery phase in 2028. In its latest market report released Monday, QCP Capital noted BTC is currently trading within a narrow psychological range, with buying interest emerging near the $60,000 mark. However, the options market remains defensively positioned, and persistent macroeconomic risks continue to impact market sentiment.
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Gold Price Wipes Out Year-to-Date Gains, International Gold Price Continues to Decline

June 10 — International gold prices extended their decline through European trading on the same day, after a slump during the early Asian session earlier that day. The metal briefly dropped below the $4,200-per-ounce level, wiping out all gains for the year. As of 5:15 p.m. Beijing time, COMEX August gold futures stood at $4,188.70 per ounce, down 2.28%, marking a 3.51% year-to-date drop. Analysts attributed the sharp pullback to last Friday’s better-than-expected U.S. non-farm payroll data, which signals sustained underlying strength in America’s labor market. Amid inflation risks stemming from the Middle East conflict, markets are now leaning heavily toward bets that the Federal Reserve will raise interest rates in the second half of the year. According to CME Group’s FedWatch Tool, the market is pricing in a nearly 70% probability of at least a 25-basis-point rate hike by year-end. Rate increases reduce the appeal of non-interest-bearing assets like gold, further pressuring prices,

11 minutes ago

Polymarket predicts a 36% probability on the event "Bitcoin drops to $55,000 in June."

Quick Crypto Update: On June 10, as Bitcoin briefly dipped below $61,000, prediction platform Polymarket saw a sharp shift in Bitcoin’s June price forecast probabilities. The likelihood of Bitcoin falling to $55,000 by the end of June surged to 36% that day, up from just 4% on June 2. Separately, Polymarket puts a 16% chance on Bitcoin dropping to $50,000 this month, while the probability of Bitcoin rising to $65,000 in June stands at 57%.

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"ETH Long" Buddy Faces Partial Liquidation Again, Cumulative Loss Reaches Nearly $35 Million

June 10: Onchain Lens monitoring shows that amid the market downturn, the trader known as "Big Brother Whale" Huang Licheng’s 25x-leveraged ETH long position has faced partial liquidation once again. He has also closed the majority of his position, resulting in an approximate $35 million loss.

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Tonight, ahead of the CPI data release, the probability of a Fed interest rate hike this year is 68.8%.

On June 10, per data from CME’s FedWatch Tool, the probability of the U.S. Federal Reserve raising interest rates at least once this year stands at 68.8% ahead of tonight’s May consumer price index (CPI) release by the U.S. Bureau of Labor Statistics (BLS). The breakdown of projected rate hike probabilities is as follows: 43.1% for a cumulative 25-basis-point increase, 21.2% for 50 basis points, 4.2% for 75 basis points, and 0.3% for a 100-basis-point hike. The BLS is scheduled to unveil May CPI figures at 20:30 ET tonight. Market consensus forecasts May CPI will rise 0.5% month-over-month (MoM) and 4.2% year-over-year (YoY). Should this expectation hold, it would mark the first time U.S. CPI has returned above the 4% threshold since May 2023, hitting its highest level since April of that year. For core CPI, the market projects a 0.3% MoM increase and a 2.9% YoY growth rate in May.

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The CFTC Proposes New Rule on Prediction Markets, Allowing Most Sports-Related Prediction Markets While Safeguarding Against Market Manipulation

June 10: According to a report in *The Wall Street Journal*, the U.S. Commodity Futures Trading Commission (CFTC) plans to propose a new set of rules to regulate prediction markets. The proposed rules would keep most sports-related prediction markets operational while aiming to prevent large-scale market manipulation.

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Pre-market: ?Huang's Stock Picks? set to Open Lower; Intel Down Over 3%

June 10: Bitget data shows that ahead of the U.S. stock market open, stocks in the "Huang Renxun's Strict Selection Stocks" basket were mostly lower, with declines including: Intel (INTC) down 3.33%; Nebius (NBIS) down 3.23%; Nokia (NOK) down 2.99%; Marvell (MRVL) down 2.95%; CoreWeave (CRWV) down 2.88%; IREN (IREN) down 2.87%; Coherent (COHR) down 2.38%; and Corning (GLW) down 2.25%.

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