Potential Triggers for a Major Bitcoin Counter-Trend Rally According to Cowen

Analyst Benjamin Cowen suggests that Bitcoin could see a substantial counter-trend rally if it experiences a specific sequence of price actions similar to 2019, where initial drops could find support. He warns that deteriorating macroeconomic conditions could influence such movements, as evidenced in prior market behaviour. Currently, Bitcoin is trading at $84,675, reflecting slight gains.

Popular crypto analyst Benjamin Cowen indicates that Bitcoin (BTC) may experience a significant counter-trend rally if specific conditions are met. In a recent YouTube video aimed at his 892,000 followers, Cowen observes parallels between Bitcoin’s current trajectory and its 2019 price movements, suggesting the potential for BTC to reach a lower high before a further decline, ultimately followed by a bounce back.

Cowen hypothesizes that Bitcoin could drop to a new low in 2025, similar to its previous patterns. He argues that if this leads to a lower high, and results in a lower low, it could still find support within the range of $69,000 to $75,000. If this support holds, it could pave the way for a significant rally.

He recalls how the rally observed in 2019 was curtailed by deteriorating macroeconomic factors. Cowen explains, “The market can no longer ignore the recession,” highlighting unemployment rates that soared to about 15% during this time as a critical factor in stalling market momentum.

Currently, Bitcoin is valued at $84,675, showing a modest increase of 1.1% over the past 24 hours. Analysts and investors alike are urged to consider these dynamics, as they could trigger notable market shifts in the near future.

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