Bitcoin surged to $84K over the weekend, but analysts caution it could be the sixth consecutive week of a repeating ‘pump-and-dump’ pattern.
Over the weekend, Bitcoin (BTC) climbed 5%, nearing the $85,000 mark again, but experienced analysts remain cautious, suspecting another false breakout. Crypto investor Daan Crypto Trades issued a sharp warning, pointing out that Bitcoin has created weekend price gaps for six consecutive weeks, only to see significant midweek pullbacks each time.
Another Weekend Mirage in the Making?
The market analyst highlighted that Bitcoin’s weekend surges, typically driven by low liquidity and hype, often reverse within a few days. He warned his 403,000 followers on X, stating, “Whenever a weekend move happens, it almost always retraces within the same week.”
However, not everyone is convinced by the dip doom narrative. In his typical bold style, former BitMEX CEO Arthur Hayes declared, “It’s on like Donkey Kong,” citing indications that the U.S. Federal Reserve might inject more liquidity to stabilize the bond market. After news surfaced that a senior Fed official acknowledged the central bank’s readiness to intervene, Hayes urged, “Buy everything,” betting that such a move could spark a surge, sending BTC into what he refers to as “UP ONLY” mode.
75% Believe New ATH is Coming
Hayes isn’t alone in his optimism. A poll by crypto commentators Altcoin Daily reveals that 75.5% of crypto enthusiasts expect Bitcoin to reach a new all-time high (ATH) before the end of 2025. Hayes himself has predicted Bitcoin could hit $250,000 by year’s end, assuming favorable macro conditions.
The weekend surge pushed Bitcoin above $85,000, rising from a low of $81,500, according to CoinGecko data. A slight 0.5% pullback over the past week means Bitcoin is only slightly outperforming the broader crypto market, which is down 0.9% during the same period. Nevertheless, Bitcoin maintains a dominance of 60.5%, with $31.3 billion in daily trading volume and a market cap of $1.65 trillion.
However, the leading cryptocurrency is still down 23% from its all-time high of $108,786 earlier this year. With weekend liquidity being low, a single negative headline could cause prices to plummet as the new week begins.
