Bitcoin could set a new all-time high (ATH) in 2028, a projection showed. Analysts also said a low for the current cycle could form first.

On June 9, local time, Cointelegraph reported that cryptocurrency analysts are citing $53,000 as a key buying zone.

Bitcoin trader Bob Loukas (밥 루카스) said on his YouTube channel that Bitcoin's four-year cycle is still alive. He noted that the phrase "this time is different" is repeatedly raised in the market, but similar claims were repeated before. He said the current cycle is also unfolding in a way similar to patterns seen in past bull and bear markets.

Loukas said that even if Bitcoin has recently fallen below $60,000, it remains close to its previous all-time high compared with past bear market bottoms. The median level over the past four years has formed around $53,000, he said. That price level could act as both support and resistance, and could also become a buying entry zone near a bear-market low, he argued.

He set the cycle's low-formation window at plus or minus 10 percent around the 46th week of the cycle. The current point is the 44th week, he said, meaning it is getting closer to what he called the "low window." "The current four-year cycle is heading toward the end, but it is not different from the previous cycle," Loukas said.

On the future path, he pointed to 2028. The view placed more weight on the long-term cycle structure than on whether there will be a short-term rebound.

The broader market remains cautious. With a lack of clear reversal signals, traders are leaning toward waiting on the sidelines rather than making aggressive calls on a bottom.

Macroeconomic and geopolitical variables are also weighing on the market. In that environment, some analysts are not pinning down a specific bottom price and are treating it as a zone requiring confirmation. Trading resource Material Indicators said on X, formerly Twitter, that optimism that Bitcoin has already bottomed and fear that it has not are appearing at the same time, calling it a "typical feature commonly seen in bear markets."

The $60,000 level has also emerged as a price point that divides short-term sentiment. Trading firm QCP Capital said in a recent analysis, "Bitcoin is currently at a psychological crossroads." With direction not clearly confirmed, attention is focusing on whether Bitcoin can regain $60,000 and defend $53,000.

In this environment, the market's key watch points are narrowing to two tracks. In the short term, traders are watching whether a low zone for this cycle is actually opening and whether $53,000 functions as support. Over the medium to long term, the key variable remains whether the four-year cycle theory starts working again and leads to a scenario of a new record high in 2028.

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