Crypto Analyst Jack Sparrow Predicts Shift in Bitcoin's Market Dynamics Post-ETF Launch, Highlights Crucial September for Price Trends

A well-known crypto investor thinks the old patterns of Bitcoin (BTC) tied to its four-year halving schedule may not apply anymore. Analyst Jack Sparrow, who has 251,100 followers on the platform X, believes many in the market are relying too much on past price trends.

According to Jack, Bitcoin is entering a new phase as an asset. He feels BTC has matured, especially since the introduction of CME (Chicago Mercantile Exchange) futures back in 2018. “I think we finished a major behavioral period as ETFs came online,” he said.

His analysis suggests that the old behavioral cycle likely ended in April this year, just after the launch of ETFs and around the time the Grayscale Bitcoin Trust (GBTC) arbitrage unwound.

As Bitcoin evolves, Jack believes it’s logical for BTC’s price movements to change significantly from previous cycles. He sees the next cycle focusing on how well Bitcoin works as a technology, its role as a store of value, and its real-world applications beyond just speculation. “The next cycle will be about viability as a technology and as a default Treasury asset,” he noted.

Jack also predicts that Bitcoin will start to act more like stocks. Wealthy investors might create market fluctuations to buy coins at lower prices. “New cycles start with accumulation. Remember, markets hunt for liquidity. Nobody is your friend; they want your coin,” he explained.

He views September as a crucial month for Bitcoin. It will determine if BTC will trend upward or downward in the coming months. “September is the month that solidifies the uptrend or confirms it breaks. It sets the main trend into March to June,” he asserted.

Right now, Jack emphasizes that Bitcoin needs to recover and test a key support level. “$61,000 is a crucial level to hold for a continuation higher and will likely be tested again.”

As of now, Bitcoin is priced at $58,490, down over 1% today.