The Copper report estimates, based on historical data, that Bitcoin's potential price peak could arrive around the end of May 2025. Analysts have studied the historical growth of Bitcoin's market cap in different bull and bear market cycles and believe that Bitcoin's cycle lasts an average of about 756 days, turning from market cap growth to positive to reaching a price peak. As of now, Bitcoin is on day 554 of the current cycle, which began around mid-2023, the analysts said. "Based on the average cycle duration, this timeline suggests that Bitcoin could peak in about 200 days, mid-2025," the report said. The report also noted that bitcoin's expected peak could coincide with the likelihood of a recession in the United States. Analysts highlighted a JPMorgan report that said there was a 45 percent chance of a recession in the second half of 2025, which overlaps with their forecast for a bitcoin peak.