A widely followed crypto analyst says that there’s a high chance that Bitcoin (BTC) reverses course after its latest pullback.

In a new strategy session, pseudonymous crypto trader Rekt Capital tells his 529,900 followers on the social media platform X that based on historical precedence, the crypto king should mount a recovery.

“Bitcoin started its current -15% pullback in week seven of price discovery. The timing of this retrace is in line with historical tendencies. It is the first price discovery correction of this cycle. As a result, it has a high probability of reversal.”

Price discovery is the process by which buyers and sellers determine the fair market value of an asset based on supply and demand, liquidity,…