- Bitcoin holds above long-term support near $30,000-$40,000, signaling resilience and potential continuation of its upward trend.
- Halving cycles and historical patterns highlight Bitcoin’s ability to rebound strongly and set new highs despite volatile corrections.
- Javon Marks notes Bitcoin bull cycles only end after crossing the Power Law median, suggesting this rally still has momentum.
Bitcoin is once again testing investor conviction as prices trade at $63,482.73 after a sharp session decline of 6.34%. Javon Marks, a well-followed market analyst, stressed that “Bitcoin’s bull cycles only ended AFTER prices crossed above the Power Law’s median threshold.” Hence, the current position suggests that this cycle still has “MUCH MORE IN THE TANK.”
The chart shared by Marks tracks Bitcoin’s performance from 2010 through 2025 on a logarithmic scale. It shows Bitcoin’s meteoric rise from under $1 in 2010 to today’s levels above $63,000. Consequently, the asset has delivered over 6,000,000% in cumulative gains across fifteen years.
Historical Cycles and Halving Impact
Bitcoin’s market history highlights repeating four-year halving cycles that reduce supply and spark major rallies. The 2013 rise, for example, peaked close to $1,000 before a steep decline back to $200. Similar to this, Bitcoin’s 2017 spike took it from $1,000 to almost $20,000 before plummeting 85% into 2018.
Moreover, the 2020-2021 cycle created unprecedented growth, carrying prices from $4,000 to $69,000. This rally coincided with institutional adoption and corporate treasury allocations. Each halving event, marked on Marks’ chart, preceded a massive bull run within 12 to 18 months.
Current Market Structure
At the moment as per the chart, Bitcoin is trading far above prior cycle highs and is holding strong long-term support around the $30,000–$40,000 range. Furthermore, the asset’s adherence to established support and resistance structures is validated by red and green trend lines. Marks underlined that even after repairs, these structures hold up.
Furthermore, these moves are validated by volume patterns. Higher volume involvement during both breakouts and corrections demonstrates market confidence. Additionally, compared to previous cycles, Bitcoin’s volatility has decreased, indicating continued market maturity.
However, the near-term pullback means there is still. Bitcoin has fallen over $4,200 in the latest session alone. Yet, the broader technical picture suggests that the trend remains upward. Consequently, investors still see Bitcoin as an established financial asset with substantial growth potential.
Bitcoin’s current placement above long-term support, coupled with the Power Law threshold, signals unfinished momentum. For investors, this could mark the early stages of another explosive cycle.
