Bitcoin, XRP Flash ‘Bart Simpson’ Pattern as Crypto Prices Retreat

Bitcoin and XRP are reviving an old crypto market meme as their recent price action begins to resemble the famous “Bart Simpson” chart pattern, raising concerns about a potentially sharper cryptocurrency market correction.

The formation, named after the spiky-haired character from “The Simpsons,” describes a rapid price surge followed by sideways trading and an abrupt reversal. The term dates back to 2015, when Bitcoin traded near $229, but clean examples have become increasingly rare as crypto market liquidity has improved.

Bitcoin’s potential Bart Simpson pattern began on Aug. 19, when BTC traded around $64,420. The cryptocurrency surged nearly $14,000 to approximately $78,300 by Aug. 21 before reaching just under $80,700 on Aug. 25. Bitcoin has since retreated, recently hovering near $76,500.

Market analyst Ben Cowen highlighted the possible formation on Sept. 1, helping reignite discussion among crypto traders.

Mati Greenspan, founder of Quantum Economics, said Bitcoin would need to fall at least 20% for him to consider the pattern complete. He remains skeptical, noting that greater liquidity, deeper markets and increased institutional participation have made Bart Simpson formations less common.

XRP, however, may face greater downside risk. The token surged from roughly $1 on Aug. 19 to $1.52 by Aug. 22 before entering a weaker consolidation phase. XRP was recently trading around $1.32.

Greenspan said XRP’s near-vertical rally creates conditions for a Bart-style reversal if prices retreat toward their pre-rally levels.

New Market Trading CEO Frank Hepworth offered a more bearish assessment, describing the formation as a potential distribution signal in which large holders sell into retail demand. He noted Bitcoin repeatedly failed to break its 50-week moving average near $81,000.

Hepworth sees Bitcoin potentially falling toward $70,000, with $58,000 possible if selling pressure accelerates. His outlook is even weaker for XRP. If Bitcoin drops to $70,000, he estimates XRP could trade between $0.55 and $1.21. A Bitcoin decline to $58,000 could push XRP toward $0.46.