BTC May Drop to 49K–39K Before Rallying to 230KBitcoin / U.S. dollarBITSTAMP:BTCUSDRajaTawonPROFESSIONAL MACRO OUTLOOK — BITCOIN LONG-TERM MARKET STRUCTURE ANALYSIS Bitcoin’s current price action suggests a high probability of repeating its historical macro behavior, particularly the structural pattern observed during the 2017–2021 market cycle. Historically, Bitcoin has consistently used the previous cycle’s All-Time High (ATH) as a major structural support during its next macro consolidation phase. This was clearly demonstrated when the 2021 cycle leveraged the 2017 ATH as a reaccumulation floor, followed by a deep liquidity sweep into the $15,000 region — a precise reflection of smart-money behavior targeting inefficiencies and unmitigated liquidity. In the present cycle, a similar structure appears to be forming. Bitcoin is showing signs of validating the 2021 ATH as its next macro support. Should this structure fully confirm, a downside retracement into the major liquidity pools around $49,000 or even $39,000 becomes a realistic and technically sound scenario. These zones represent significant inefficient price areas left behind during the previous bullish expansion, and they remain prime targets for liquidity collection before a sustainable macro uptrend can resume. Assuming Bitcoin continues to follow its established four-year cyclical rhythm, the market is likely entering a macro corrective reaccumulation phase. Under this framework, the next major bullish expansion may not peak until the next 3–4 years. Based on historical growth models and long-term logarithmic projections, Bitcoin holds strong potential to establish a new ATH around $230,000 during the next macro cycle top. This projection aligns with institutional accumulation trends, halving-driven supply compression, and recurring market structure characteristics observed across multiple Bitcoin cycles.