Renowned trader and technical analyst CryptoCon has pointed out Bitcoin's historical patterns in a new analysis, suggesting that BTC could fall back to $31,300 this year. However, inflows into ETFs could counteract further declines. 😯

CryptoCon notes that no Bitcoin cycle has gone by without “a 150% revision of the long-term holder support line.” He believes Bitcoin is likely to hit the $31,300 level, but inflows into ETFs could help counter further price declines. If such levels are tested, the analyst believes it should be viewed as a buying opportunity. 📉

CryptoCon remains bullish on Bitcoin, but maintains a bullish outlook for 2025, when many analysts believe BTC will reach new all-time highs.