Cryptocurrency analyst Benjamin Cowen has cautioned investors about potential weaknesses in Bitcoin's price trajectory, despite its recent recovery to $77,000. Cowen's analysis, which draws parallels with historical cycles from 2018 and 2022, suggests that Bitcoin may face a local peak by the end of April, followed by a decline in early May. He highlights the upcoming Federal Reserve meeting on April 29 as a significant risk factor. Cowen emphasizes the importance of monitoring stablecoin dominance, noting that USDT and USDC dominance at the 100-day moving average indicates a strong tendency for investors to shift from Bitcoin to cash. He predicts Bitcoin could retest the $60,000 level later this year, with May and June historically being periods of market weakness. Cowen advises caution, suggesting that a true market bottom will only be confirmed after repeated tests of resistance levels throughout the year.