Bitcoin is showing signs of strength in the early part of the second quarter, currently trading between $84,000 and $85,000. Despite growing concerns over global economic conditions, the asset has maintained a steady position, giving traders reason to remain optimistic.
Key market threats still linger, including inflation, expected tariff moves from Donald Trump, interest rate uncertainty, and the possibility of a global slowdown. However, these factors have not significantly shaken Bitcoin’s current momentum. Instead, market activity suggests the ongoing bull run is still intact.
According to crypto analyst Benjamin Cowen, Bitcoin’s trajectory could still point toward a major peak later in the cycle. During an interview on the Altcoin Daily podcast hosted by Austin Arnold, Cowen explained that if the current pattern continues, Bitcoin could climb as high as $200,000.
He emphasized that this projection depends on the market following what is known as a “right-translated cycle.”
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In a right-translated cycle, Bitcoin peaks later rather than earlier, giving the market more time to build upward momentum. Cowen said this structure supports the possibility of Bitcoin reaching a price range between $120,000 and $150,000. If market conditions align perfectly, $200,000 remains a realistic stretch target
Drop Below $72K Could Shift the Entire Cycle
However, Cowen made it clear that a breakdown below the $72,000 mark would raise concerns. A sustained drop under that level could signal a “left-translated cycle,” which would suggest the peak already occurred and the bull market ended prematurely. As of now, no strong indicators are pointing to that scenario.
He also warned that time is limited, as he expects the year 2026 to present significant challenges for the crypto market, similar to downturns seen in 2018 and 2022. If a deeper pullback occurs, he advises patience, as history shows the market may still offer exit opportunities later in the cycle.
Ethereum and Cardano were also addressed in Cowen’s outlook. He noted Ethereum is undergoing a correction and could revisit the $1,200 to $1,600 range before a recovery. Cardano, on the other hand, continues to lag and may not see notable gains until late 2025 unless conditions improve.
Bitcoin’s potential climb to $200,000 depends heavily on how the current cycle plays out. For now, the market remains on course, but any sustained weakness could shift the narrative quickly.
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