VanEck’s Matthew Sigel shows how the ongoing Bitcoin pullback is a natural part of its cycle, confirming that he has continued to accumulate.

Bitcoin’s recent dip below $80,000, followed by a swift recovery above $81,000, has triggered concerns among investors that the crypto market’s bull run might be losing steam. 

Sigel Shows Current Bitcoin Pullback Natural

However, Matthew Sigel, VanEck’s Head of Digital Assets Research, recently stepped in to calm these fears, suggesting that the current 25% drop from its all-time high of $109,600 aligns with historical patterns. 

In a casual disclosure on X, Sigel pointed to past bull cycles, revealing that massive corrections occur regularly before Bitcoin reaches new peaks.

List of Bitcoin corrections in the run-up to $20k in 2017:
-41%
-38%
-29%
-34%
-41%
-40%
-27%

List of Bitcoin corrections in the run-up to $69k in 2021:
-21%
-17%
-31%
-26%
-55% (!!)
-25%

— matthew sigel, recovering CFA (@matthew_sigel) February 28, 2025

The analyst called attention to Bitcoin’s performance during previous rallies. In 2017, as Bitcoin climbed to $20,000, it endured seven corrections ranging from 27% to 41%. Similarly, in 2021, on its way to $69,000, the cryptocurrency faced six pullbacks between 17% and a staggering 55%. 

The current 25% correction is similar to these past dips, suggesting that volatility remains a natural part of Bitcoin’s growth trajectory. When asked if this indicates that he is not concerned, Sigel confirmed that he’s constantly accumulating assets while others sell.

Several Analysts Agree

Interestingly, in a separate commentary, analyst Rekt Capital echoed Sigel’s disclosure, spotlighting Bitcoin’s first “Price Discovery Corrections” across cycles. In 2013, Bitcoin plummeted 75% over 13 weeks, while 2017 saw a 34% drop in just 3 weeks. Further, the 2021 cycle experienced a 31% decline over 4 weeks. 

#BTC

Bitcoin is in its first Price Discovery Correction

Here is a look at historical first Price Discovery Corrections:

2013: -75% in 13 weeks

2017: -34% in 3 weeks

2021: -31% in 4 weeks

2025: -25% in 11 weeks thus far

Depth-wise, this current -25% Price Discovery…

— Rekt Capital (@rektcapital) February 27, 2025

Now, in 2025, Bitcoin’s 25% correction has unfolded over 11 weeks, shallower than most historical precedents but closer in duration to 2013. Rekt Capital noted that while this pullback nears the typical 30% threshold, its extended timeline shows the market is maturing.

Meanwhile, Crypto Caesar also confirmed that corrections like this one fit comfortably within bull market patterns. Notably, he acknowledged that Bitcoin could still dip below this level, a sentiment shared by Standard Chartered, but is confident that Bitcoin’s upward trajectory continues. 

More Bitcoin Dip before Uptrend

However, CrypNuevo, another analyst, forecasted that Bitcoin’s next monthly candle in March will likely dip lower, possibly retesting today’s February lows. 

According to him, this move could fill a gap in the CME futures market and test the 50-week exponential moving average—a key support level where a bounce might occur. CrypNuevo suggests the market sits on the cusp of a pivotal moment, urging patience as Bitcoin finds its footing.

Market veteran Michaël van de Poppe ties the current Bitcoin volatility to broader economic factors, calling attention to massive long liquidations today—the highest since October 2021—triggered the crash below $80,000 today. 

This has been the highest long liquidation since October ’21 for #Bitcoin.

That shows how heavy the impact is, exchanging hands between the weak and the smart people.

We’re not at the end of the bull cycle, this is just an extreme opportunity to be buying into the markets. pic.twitter.com/sana8ZAaTb

— Michaël van de Poppe (@CryptoMichNL) February 28, 2025

Van de Poppe also connects the correction to external pressures, like tariff discussions and a Nasdaq tumble, predicting a potential rebound after the U.S. market opens. For him, this dip represents an exceptional buying opportunity.

Despite the ongoing pullback, analyst Wimar claims the biggest bull run in Bitcoin’s history is just days away. He ties this forecast to a historical pattern where Bitcoin surges 315 days post-halving, projecting a climb to $250,000 in 2025. Currently, BTC trades for $81,596, down 5.5% in the past 24 hours.