Predictions from experts like Benjamin Cowen and Peter Brandt suggest a potential Bitcoin price crash if Bitcoin repeats a historical trend.

The cryptocurrency market recently saw a resurgence in rally excitement as the upcoming Bitcoin halving boosted BTC prices to over $72,715. However, there are concerns about resistance at the $80K mark, with experts warning of a possible downturn or even a crash if Bitcoin follows a pattern from the past.

An anticipated correction in Bitcoin's price looms on the horizon with the halving event approaching. Analysts caution that if BTC mirrors a previous pattern seen around spot Bitcoin ETFs and prior halvings, a price decrease could be in store. Benjamin Cowen believes Bitcoin may hit a new all-time high post-halving before dropping below $60,000.

While historical patterns seldom repeat identically, the possibility remains relevant for potential scenarios repeating,: Cowen highlighted.

Experienced trader Peter Brandt concurred, noting that Bitcoin often adheres to historical trends especially during previous bull markets and halving events. He remarked that a “similar pattern has been prevalent in past Bitcoin bull runs.”

Arthur Hayes, co-founder of BitMEX, foresees a Bitcoin price slump before and after the halving event. He suggests that a scarcity of US dollar liquidity during this period may lead to increased selling pressure on cryptocurrencies.

Furthermore, there were total outflows of $223 million from spot Bitcoin ETFs, with the Grayscale Bitcoin ETF witnessing significant outflows exceeding $300 million. Options trader Greekslive observed a pullback entering the market with a rise in short-term Bitcoin option selling, alongside a decline in the main term IV.

Notably, a large trader invested in 350 calls for the $200,000 strike price expiring in March 2025 and amassed nearly 30,000 calls above $100,000 spanning all terms.

Although BTC price saw a 4% increase in the past 24 hours, gains were tempered with the current price around $70,993. The day's trading range fluctuated between $69,654 and $72,715, accompanied by a 90% rise in trading volume over the past day.

BTC Futures Open Interest decreased by 0.30% within the last 4 hours, while BTC Options Open Interest showed a slight uptick in the last 24 hours.