BITCOIN ANALYSIS: $40K Ahead, Bitcoin's Missing Wave CBitcoin / TetherUS PERPETUAL CONTRACTBINANCE:BTCUSDT.Pbaris3Hello traders, In today’s analysis, I demonstrate how Elliott Wave Theory has accurately mapped Bitcoin’s price structure on the BTCUSD chart from the first major cycle through the current market phase. When comparing the current cycle with previous ones, a key difference becomes apparent: the market has yet to complete a significant Wave C corrective decline. Based on this historical framework, Bitcoin may need to revisit the $40,000 region before establishing the foundation for the next major bullish leg. Fundamental factors are also beginning to align with this outlook. Recent data has shown substantial outflows across Bitcoin Exchange-Traded Funds (ETFs), suggesting weakening institutional demand in the short term and increasing the probability of a deeper corrective phase. Follow for more in-depth market analysis and price action insights.