After surpassing its $100,000 milestone, Bitcoin (BTC) recorded its largest retrace in the past month before recovering. Amid the flagship crypto’s performance, some analysts have suggested the levels to watch and the next stops for BTC’s rally. Related Reading: Ethereum To Pull A BTC 2021-Like Rally? Analyst Shares Massive Prediction Bitcoin Rally To Continue Above $100,000 On Thursday, Bitcoin hit its latest all-time high (ATH) of $103,600 in an 8% daily jump. The largest cryptocurrency by market capitalization broke out of a one-month bullish pennant and smashed past the $100,000 barrier for the first time in history. After the impressive surge, BTC retraced to the $98,000 mark before briefly plummeting to the $90,000 support zone. This 13% correction marks the largest drip for the flagship cryptocurrency since the post-election rally started a month ago and triggered around $1 billion in liquidations, its largest since August. Nonetheless, Bitcoin quickly recovered the $97,000-$98,000 price range, followed by a retest of the previous ATH levels around $99,000 on Friday morning. Renowned crypto analyst Ali Martinez noted that BTC’s rally seemingly depends on a key support level. Martinez revealed the most significant support zone for Bitcoin was the $96,870 mark, where over 1.45 million addresses bought 1.42 million BTC. The analyst explained, “As long as this demand zone holds, there is a good probability that BTC will continue marching higher.” Moreover, he highlighted that the local Bitcoin top is not in yet, as these are “usually reached around the Short-Term Holder Cost Basis +1 standard deviation.” Per the analyst’s chart, this level stood at $112,926 at the time of the report, suggesting that BTC could jump another 13% before seeing the first major retrace. Will BTC Repeat Its 2017 Move? Crypto analyst Jelle pointed out that Bitcoin is still “following the Q4 2023 fractal closely” despite the dip. He suggested that now that the flagship crypto “took out the liquidity on both sides,” it would start pushing back to the $100,000 milestone. Jelle suggested that BTC would range until Christmas, when he forecasts the “true breakout” will happen if it continues following last year’s steps. Additionally, he noted that yesterday’s $100,000 candle resembles BTC’s candle when it first surpassed the $10,000 mark. In November 2017, Bitcoin rallied to $10,000 for the first time, hitting the $11,000 range before plummeting to $8,500. The following day, the largest crypto saw its price recover from the correction and retest the $10,000 barrier, finally turning it into support on the third day. After that, Bitcoin rallied around 90% in the next few weeks to the $19,000 2017 ATH. Based on this, the analyst suggests that the recent price volatility is “totally normal” and will push higher soon if it repeats history. Related Reading: Tron (TRX) Leads The Crypto Market With 100% Rally To New ATH, $0.5 Next? After the recovery, BTC successfully retested the bullish pennant, setting the stage for a six-figure price “once and for all,” Jelle stated, with the liftoff targeting the $130,000 level. As of this writing, the flagship crypto trades at $101,050, a 4.7% increase on the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin finally shattered the $100,000 barrier, reaching an all-time high of $103,600. The milestone marked a historic moment for cryptocurrency as investors and enthusiasts celebrated its journey to six figures. However, the euphoria was short-lived. Within hours, BTC experienced a sharp reversal, plunging to $92,000 in a dramatic sell-off that left the market reeling. Related […]
Bitcoin has set a new all-time high (ATH) beyond the $104,000 mark during the past day, but on-chain data shows investors are still unwilling to sell. Bitcoin Exchange Netflow Has Remained Negative During Latest Rally As explained by an analyst in a CryptoQuant Quicktake post, Bitcoin has continued to leave exchanges recently. The on-chain metric of relevance here is the “Exchange Netflow,” which, as its name suggests, keeps track of the net amount of BTC that’s entering into or exiting out of the wallets attached to centralized platforms. Related Reading: Bitcoin 30-Day Trader Profits Back In ‘Healthy’ Range, Is BTC Ready For $100,000? When the value of this metric is positive, it means the investors are making net deposits to the exchanges. As one of the main reasons why holders use these platforms is for selling-related purposes, this kind of trend can have a bearish implication for BTC. On the other hand, the indicator being negative implies there are a higher amount of exchange outflows happening than inflows. Such a trend can be a sign that the investors want to hold onto their coins into the long-term, which is something that can naturally be bullish for the asset’s price. Now, here is a chart that shows the trend in the Bitcoin Exchange Netflow over the last couple of years: As displayed in the above graph, the Bitcoin Exchange Netflow has observed significant negative spikes during the last month or so, suggesting some large withdrawals have occurred. This net outflow spree has come even though the cryptocurrency has observed a massive run to new ATHs. The chart shows that this wasn’t the case during the rally in the first quarter of this year. Outflows were happening back then for sure, but there were also notable net inflow spikes between them, implying that demand was present for selling the asset. The recent negative Exchange Netflow has maintained for Bitcoin through the latest rally beyond $100,000, a sign that investors are still unwilling to part with their BTC even at these high prices. Related Reading: Ethereum To $10,000: Analyst Reveals Mid & Long-Term ETH Targets If this trend continues, it’s possible that this run could still have more room to run. However, it remains to be seen how long holders can stay quiet. Generally, the higher the investor profits, the more likely they become to participate in a mass selloff. So, with Bitcoin continuing to perform well, it may only be a matter of time before a large profit-taking spree arrives. BTC Price Bitcoin has finally broken free of its recent consolidation phase with a more than 7% surge during the last 24 hours. The asset briefly broke above the $104,000 mark in this rally, but its price has since seen a minor pullback to $103,500. Featured image from Dall-E, CryptoQuant.com, chart from TradingView.com
Bitcoin has shattered all-time highs again, breaking the $100,000 barrier for the first time and surging to $103,620. This remarkable milestone marks a price level many thought impossible, solidifying Bitcoin’s position as a dominant force in global finance. The recent breakout comes with renewed enthusiasm, as market dynamics indicate Bitcoin’s rally may still have more […]
Bitcoin has set a new all-time high of $104,000 on Coinbase, setting the cryptocurrency loose into price discovery — so where is it heading next?
Bitcoin has been consolidating below the $100,000 level for twelve consecutive days, marking a pause in its recent historic rally. The aggressive surge since November 5 appears to be cooling off, with market attention gradually shifting toward altcoins. Despite the slowdown, Bitcoin remains a cornerstone of market strength, holding firmly above the critical $90,000 support level. Related Reading: Dogecoin Whales Keep Buying – DOGE Metrics Reveal Demand Remains Strong Key data from CryptoQuant highlights two significant outflows exceeding 8,000 BTC each from Coinbase in the past 24 hours, signaling sustained institutional interest and potential accumulation. These outflows suggest that major players remain optimistic about Bitcoin’s long-term trajectory, even as short-term price action steadies. As Bitcoin maintains its consolidation phase, the broader crypto market is poised for dynamic changes. Analysts are closely watching whether this stabilization period will pave the way for BTC’s next leg upward or signal an opportunity for altcoins to take the spotlight. The next few days will be crucial in determining whether Bitcoin reclaims momentum or continues its current range-bound movement. Bitcoin Leading A Heated Market Bitcoin continues to lead the crypto market with remarkable gains, even as it halts just below the highly anticipated $100,000 level. The current pause in its rally has triggered a liquidity shift, gradually pumping capital into the altcoin market. However, analysts and investors anticipate that Bitcoin may slow down in the short term after its aggressive recent surge, providing an opportunity for other cryptocurrencies to shine. Metrics from CryptoQuant highlight notable activity on Coinbase, where two massive outflows, exceeding 8,000 BTC each, were recorded in the last 24 hours. A total of 19,487 BTC, valued at an average price of $96,043, was withdrawn in these transactions, amounting to approximately $1.87 billion. Such significant movements indicate the involvement of institutional players or whales who may be positioning themselves for Bitcoin’s next major move. Historically, market dips have followed similar outflows, as large transactions often signal profit-taking or redistribution of holdings. However, these transactions could also suggest growing confidence among major investors in Bitcoin’s long-term potential. Related Reading: XRP Reaches 6-Year High – Whales And STH Accumulate Together If BTC maintains its position above $90,000 and demand continues to build, the market may see a renewed push toward six-figure territory in the weeks ahead. Price Levels To Watch Bitcoin is trading at $96,700, continuing a range-bound movement between $93,500 and $98,700 without establishing a clear direction. This consolidation follows a period of aggressive rallies, with BTC approaching but not yet surpassing its all-time high. Market participants are closely watching the $90,000 mark, which has proven to be a critical level of support. Holding above this level has been essential in signaling market strength and sustaining bullish momentum. If Bitcoin maintains its position above the $95,000 mark over the next few days, the likelihood of a breakout to new all-time highs becomes significantly stronger. A stable consolidation above this level would fuel buyers to push BTC past the psychological $100,000 barrier. Conversely, losing the $95,000 support would raise concerns, potentially prompting a test of the $90,000 level again. Should this key level fail, Bitcoin could experience a deeper correction with lower support zones. Related Reading: Cardano Could Be Heading For A 20% Correction – Technical Data Signals Bearish Price Structure Bitcoin’s ability to remain above $95,000 will be crucial in determining its next move. Bulls are eyeing another upward push, while bears are looking for signs of exhaustion to capitalize on. Featured image from Dall-E, chart from TradingView
Bitcoin has experienced a few days of ranging price action following its recent drop from $99K to $90K. The price is now holding above the $95K level, and this area is crucial in determining whether BTC will continue its ascent toward the $100K mark or retrace to find liquidity in lower levels. If BTC fails […]
Bitcoin has entered a period of calm after a turbulent decline from $99,000 to $90,000 over just three days. Currently trading above $95,000, the leading cryptocurrency holds a pivotal level that will likely dictate its next move. This key zone will determine whether Bitcoin regains upward momentum or seeks lower-level liquidity to establish stronger support. Related Reading: XRP Reaches 6-Year High – Whales And STH Accumulate Together Despite the recent volatility, market participants remain optimistic, as on-chain data provides fresh insights. According to CryptoQuant, a notable uptick in stablecoin transfer volumes has coincided with Bitcoin’s price action. This metric often signals increased purchasing power entering the market, a potential precursor to renewed buying interest in Bitcoin. As Bitcoin consolidates above $95,000, traders and investors closely monitor its ability to reclaim psychological resistance at $100,000. Conversely, losing support could push BTC to retest lower levels near $90,000 or even deeper liquidity zones. Bitcoin And Stablecoins: What They Have In Common? Bitcoin has achieved a remarkable milestone, staying less than 1% away from the coveted $100,000 mark, driven by a wave of institutional and retail buying. This historical rally reflects a growing global demand, with investors from various countries utilizing stablecoins to purchase BTC. Stablecoins have emerged as the preferred bridge, enabling seamless transactions across borders and currencies. According to CryptoQuant analyst Axel Adler, the recent surge in stablecoin transfer volumes coincided with Bitcoin’s price ascent. This trend highlights stablecoins’ significant role in providing liquidity and driving market momentum. Cash inflows through stablecoins create robust support for Bitcoin’s price, allowing it to maintain upward pressure even as it nears critical psychological levels. The correlation between stablecoin activity and Bitcoin price action offers valuable insights into market dynamics. Increased stablecoin transfers often signal heightened demand for Bitcoin, providing a reliable indicator of potential price movements. This interplay is particularly relevant in identifying periods of high buying pressure, as stablecoins facilitate quick and efficient market participation. Related Reading: Dogecoin Ready To Hit $1 – Price Struggles To Break Above Major Resistance As Bitcoin approaches the $100,000 milestone, the continued influx of stablecoin-driven liquidity underscores the asset’s global appeal and resilience. Whether this momentum leads to a breakout above $100,000 or a period of consolidation, the role of stablecoins in fueling demand will remain pivotal in shaping Bitcoin’s price trajectory. BTC Price Nears Critical Zone Bitcoin currently holds above the crucial $95,000 level, a price that will play a decisive role in its short-term trajectory. This level acts as a psychological and technical support zone that could propel BTC toward the long-anticipated $100,000 milestone this week or delay the breakthrough until next year. For Bitcoin to breach $100K, the $95,000 level must hold for several days, allowing sufficient time to fuel demand and attract fresh liquidity. Sustained buying pressure around this range will likely enable BTC to break above the key psychological barrier, continuing its historic rally. However, the bullish momentum faces risks. A failure to hold the $95,000 level would expose BTC to a retest of $92,000, another critical support. Losing both levels could trigger a significant correction, sending Bitcoin to lower demand zones around $85,000 or sub-$ sub-$80,000. This move would sharply reverse its recent rally, shaking market confidence. Related Reading: Cardano Transactions Rise To Multi-Year Highs – Metrics Support Bullish Outlook The coming days will be pivotal as traders watch for sustained support above $95,000. Bitcoin’s ascent to $100,000 could soon materialize if the bulls defend this level effectively. Otherwise, the market might brace for a deeper retracement before regaining its upward momentum. Featured image from Dall-E, chart from TradingView
Bitcoin has seen unpredictable and volatile activity recently, with price action testing both psychological and technical boundaries. The cryptocurrency failed to break above the coveted $100,000 mark while showing resilience by holding firmly above the $90,000 level. This tight range has left traders and investors on edge, watching closely for a decisive move. Related Reading: […]
Bitcoin has entered a consolidation phase just below the $100,000 level, following an impressive rally that saw the price hitting all-time highs nearly every day for almost three weeks. While the market has quieted down recently, Bitcoin’s bullish momentum remains strong, and many analysts believe the pause is merely temporary before another upward push. Related […]
Bitcoin recently experienced a small retrace from its all-time high of $99,800, dropping to a low of $90,700. Despite this pullback, the price action remains bullish as BTC shows resilience and recovers from the dip. Market momentum remains strong, with key players continuing to show confidence in the asset’s long-term potential. Related Reading: ‘Even In […]
Bitcoin recently saw a 9% retrace from its all-time high of $99,800, narrowly missing the psychological $100K milestone. The pullback brought BTC down to a low of $90,700 on Tuesday, sparking concern among some investors. However, the price has since recovered, showing resilience as it climbs back toward key resistance levels. Despite the volatility, Bitcoin’s long-term bullish structure remains intact, with market sentiment leaning optimistic. Related Reading: Cardano Whales Buy The Dip – Metrics Show Increasing Demand Top analyst Axel Adler has provided key on-chain insights that suggest that the strong demand for Bitcoin persists at current levels. According to Adler, this buying activity indicates that investors view pullbacks as opportunities to accumulate, underscoring confidence in Bitcoin’s potential for further growth. However, he also highlighted solid support at lower price levels, which could come into play if the current recovery fails to sustain. The next few days will be crucial as Bitcoin tests its ability to reclaim momentum and potentially break through the $100K barrier. With demand remaining robust and market conditions aligning for a potential breakout, all eyes are on whether BTC can sustain its upward trajectory or if further consolidation is on the horizon. The stage is set for a decisive move in Bitcoin’s price action. Bitcoin Data Reveals Investors’ Entry Prices Bitcoin continues to showcase extremely bullish price action, driven by increasing demand from institutional and retail investors. Key on-chain data from CryptoQuant analyst Axel Adler highlights critical price dynamics shaping the current market. According to Adler, Bitcoin’s price is presently consolidating within the average purchase range of two key investor cohorts: the 1D ($96.8K) and the 1D-1W ($95.3K). These levels act as crucial support zones, reflecting strong buyer interest at current prices. Additionally, the average purchase level in the 1W-1M range, positioned at $84K, provides an extra layer of support in case of a broader market pullback. This indicates that even in a more bearish scenario, Bitcoin will likely find stability around $84K before resuming its upward trajectory. The data reinforces a widely held bullish outlook for Bitcoin among analysts and investors, many of whom believe the current cycle is still in its early stages. The strong demand and robust support levels suggest that Bitcoin is well-positioned to maintain its bullish momentum in the weeks ahead. Related Reading: XRP Consolidates Below Crucial Resistance – Analyst Sets $1.60 Target Whether BTC holds above its current levels or experiences a temporary dip, the consensus remains optimistic about further gains, with this cycle potentially marking a historic run for the cryptocurrency. BTC Nears $100K Bitcoin is currently trading at $95,200, a pivotal level that could determine its next major move. This price point serves as a crucial threshold, and if Bitcoin holds above it, the stage would be set for a potential test of the highly anticipated $100,000 level. Before reaching this psychological milestone, the next significant supply zone lies at $98,800. A break above this level would likely trigger a massive breakout, propelling BTC beyond its all-time high and into six-figure territory for the first time. However, the stakes remain high. Bitcoin could face a deeper correction if it fails to maintain its position above the $90,000 level. In such a scenario, the next strong support is at $85,500, a critical level that would need to hold to preserve Bitcoin’s bullish structure. Related Reading: Ethereum Analyst Predicts $3,700 Once ETH Breaks Through Resistance Market participants closely monitor these key levels, as Bitcoin’s trajectory will influence broader market sentiment. With strong demand and momentum, the coming days will be pivotal in determining whether BTC surges past $100,000 or consolidates further before resuming its bullish run. As the market remains highly dynamic, traders and investors are bracing for significant moves ahead. Featured image from Dall-E, chart from TradingView
Bitcoin has seen a 9% retracement from its all-time high of $99,800, but its long-term bullish structure remains intact. This correction, though notable, hasn’t dampened investor optimism, as many are prepared to buy the dip and drive BTC past the elusive $100,000 mark. According to key metrics shared by Axel Adler, a prominent CryptoQuant analyst, […]
Bitcoin has experienced a 7% pullback from its all-time high at $99,800 after failing to break above the psychological $100,000 mark. This retracement, while causing some concern among investors, is seen as a necessary consolidation phase for the cryptocurrency to build strength before continuing its ascent. Related Reading: Bitcoin ETF Demand Is Back – What’s […]
Bitcoin has been on a remarkable upward trajectory, pushing above the $96,000 mark for several days after consolidating below the psychological $100,000 level. As the leading cryptocurrency, Bitcoin has consistently broken all-time highs over the past three weeks, with yesterday marking a milestone weekly close at $98,000—the highest in its history. Related Reading: XRP Analyst Sets $2 Target If It Holds Key Level – Can It Reach Multi-Year Highs? CryptoQuant analyst Axel Adler shared an insightful analysis on X, emphasizing that Bitcoin’s recent attempt to dip below $95,000 met with significant resistance, reinforcing the strength of current support levels. According to Adler, the market is now poised for a critical test of the $100,000 mark, a barrier that could catalyze further bullish momentum or signal a short-term consolidation phase. With Bitcoin’s bullish trajectory showing no signs of slowing, traders and investors are closely watching for a breakout above $100,000. Such a move could ignite broader market optimism and drive renewed interest in altcoins, potentially shaping the next phase of the crypto market’s growth. However, failure to break above this key level might trigger a healthy correction, setting the stage for a more sustainable rally. Bitcoin Price Action Remains Strong Bitcoin’s price action has remained exceptionally bullish despite a recent retrace from $99,800 to $95,800—a minor dip of less than 4%. Investors widely see this pullback as a brief consolidation phase before a potential breakout above the pivotal $100,000 mark. The resilience demonstrated during this retrace has bolstered confidence among market participants, with many viewing it as a healthy pause in an ongoing uptrend. Renowned CryptoQuant analyst Axel Adler weighed in on the recent market movements via X, sharing a technical analysis that reinforces Bitcoin’s robust bullish structure. Adler highlighted that pushing BTC to lower demand levels was unsuccessful, further solidifying current support zones. According to his insights, the stage is now set for Bitcoin to finally test the critical $100,000 area and gauge the market’s reaction at this psychological threshold. As BTC approaches this milestone, investor sentiment appears divided. Many traders view the $100,000 level as an ideal price to begin taking profits, citing historical patterns of pullbacks after significant round-number milestones. Related Reading: Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target However, others remain optimistic about Bitcoin’s continued strength, forecasting a potential surge beyond $100,000. Predictions for the rally’s peak range between $105,000 and $120,000, reflecting a broader belief in the cryptocurrency’s long-term potential. Whether Bitcoin consolidates or continues climbing, all eyes remain on its next moves. Bullish Weekly Close Could Send BTC Higher Bitcoin has achieved its highest weekly close in history, recording an impressive $98,000. This milestone is a technical achievement and a critical psychological boost for market participants. It signals a strong bullish environment that could soon propel Bitcoin above the coveted $100,000 mark. The $98,000 level now serves as a robust support zone, and maintaining this price—or at least staying above $95,000—in the coming days will be pivotal. A breakout above these levels could propel Bitcoin towards $100,000 with significant momentum. Such a move would solidify Bitcoin’s uptrend and attract further interest from retail and institutional investors. Related Reading: Massive Ethereum Buying Spree – Taker Buy Volume hits $1.683B In One Hour However, continued consolidation below $100,000 remains a possibility. Bitcoin may take several weeks of sideways movement to gather the strength needed for the next leg up. While potentially frustrating for short-term traders, this consolidation phase would provide a healthy foundation for sustainable growth. Featured image from Dall-E, chart from TradingView
Bitcoin has surged past the $99,800 mark, setting a new all-time high as it inches closer to the psychological $100,000 barrier. While the milestone signals remarkable strength, the price has yet to claim this key level, leaving investors in suspense. Market demand remains robust, fueling optimism that Bitcoin will soon break above the $100,000 threshold. Related Reading: Massive Ethereum Buying Spree – Taker Buy Volume hits $1.683B In One Hour Key data from CryptoQuant reveals that Bitcoin’s Realized Profit has reached an all-time high of $443 million in daily gains. This highlights significant buying pressure in the market as traders and long-term holders lock in unprecedented profits. However, this record-breaking profit-taking is also sparking concerns among some investors. They fear the rally could stall, interpreting the surge in realized profits as a potential signal of a local top scenario. Despite these mixed signals, the overall market sentiment leans bullish. Bitcoin continues to hold above crucial support levels, suggesting that demand remains strong enough to drive the next leg up. With the cryptocurrency just shy of a monumental breakthrough, the coming hours and days will be critical in determining whether Bitcoin’s momentum can sustain a decisive move beyond $100,000 or if a temporary consolidation is on the horizon. Bitcoin Rally Could Continue Above $100K Bitcoin’s rally from $66,800 to $99,800 has marked a unique and unexpected bullish phase in 2024. As prices approach the elusive $100,000 milestone, many investors who doubted Bitcoin’s potential to hit this level this year are now revising their expectations. The surge has been driven by strong demand and market confidence, making a breakout above $100,000 seem inevitable. Should this occur, analysts widely anticipate a bullish continuation for Bitcoin, further solidifying its dominance in the crypto space. Related Reading: Avalanche Soars 20% In 24 Hours – Analyst Reveals Next Price Target However, market dynamics suggest the journey to $100,000 may not be without hurdles. Corrections during this phase are not only possible but could also be beneficial for market health. A pullback would provide an opportunity for consolidation, potentially giving altcoins the space to recover and initiate their own rallies. Critical insights from CryptoQuant analyst Maartunn shed light on the aggressive nature of this rally. Data shows Bitcoin’s Realized Profit recently hit an all-time high of $443 million daily, reflecting significant profit-taking activity. While this confirms robust buying pressure, it also raises concerns among cautious investors who interpret the spike in profits as a potential sign of a local top. Despite these concerns, there’s room for growth in Bitcoin’s trajectory. Maintaining support above $95,000 would sustain bullish momentum, but a healthy correction from current levels might also provide the fuel needed for a stronger push beyond $100,000 in the near future. BTC Testing Crucial Supply Bitcoin is currently holding strong above the $97,000 mark, maintaining bullish momentum as it eyes a push above the $100,000 milestone. This level represents a significant psychological and technical barrier, and market sentiment remains optimistic about Bitcoin’s potential to break it. With demand staying robust, many investors are preparing for an explosive surge that could define Bitcoin’s trajectory in the coming weeks. However, there are growing concerns about the possibility of Bitcoin setting a local top. If this scenario materializes, the price could enter a consolidation phase, potentially lasting several weeks as the market digests recent gains. Analysts suggest that holding above the $98,000 level in the next few days would keep bullish momentum intact and pave the way for a breakout above $100,000. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks On the other hand, if Bitcoin fails to hold the $97,000 mark, it could signal the start of a healthy correction. In this case, the price may retrace to the $92,000 level, a key demand zone that would likely act as strong support. A pullback to this level would allow Bitcoin to regroup and build the foundation for another push higher, reinforcing its long-term bullish trend. Featured image from Dall-E, chart from TradingView
Bitcoin has experienced a record-breaking bullish breakout, shattering all-time highs almost daily over the past three weeks. After an impressive rally, the price is less than 2% away from the $100,000 mark—a critical psychological level that could become a turning point for the entire crypto market. Investors and analysts alike are closely watching this milestone, […]
Bitcoin has surged past the $99,800 mark, setting another all-time high as it inches closer to the psychological $100,000 milestone. Despite briefly testing the level, BTC has yet to break through, leaving investors and analysts eagerly anticipating the next move. With demand remaining robust, the stage appears set for Bitcoin to push past this key barrier in the coming days. Related Reading: Massive Ethereum Buying Spree – Taker Buy Volume Hits $1.683B In One Hour Recent data from CryptoQuant highlights a significant factor driving this rally: the Coinbase Premium Gap, which currently sits at $224. This metric, representing the price difference between Bitcoin on Coinbase and other global exchanges, signals strong buying activity from US Coinbase investors. The relentless upward momentum has further solidified Bitcoin’s dominance in the crypto market, with many viewing the $100,000 level as a critical supply zone. While the price has yet to break through, the ongoing rally reflects a growing belief that Bitcoin’s parabolic bull phase is far from over. As the market approaches this pivotal moment, all eyes remain on BTC’s ability to sustain its momentum and claim new highs, setting the tone for the weeks ahead. Bitcoin Price Action Remains Strong Bitcoin has been in an “only up” phase since November 5, showing no signs of weakness as it consistently climbs to new heights. Even after failing to break above the $100,000 mark yesterday, price action remains incredibly strong. Bulls are firmly in control, and if Bitcoin holds above critical demand levels, the long-anticipated $100,000 milestone could be breached within hours. CryptoQuant analyst Maartunn revealed that robust demand from US investors is a key driving force behind this rally. According to his data, the Coinbase Premium Gap—a metric that tracks the price difference between Bitcoin on Coinbase and other global exchanges—stands at $224. This positive premium underscores US-based buying activity as a significant factor in the current bullish momentum. A high premium often suggests that investors on Coinbase are willing to pay a higher price than others, a strong indicator of heightened demand. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks As the market watches closely, Bitcoin’s ability to maintain its upward trajectory hinges on staying above vital support levels. The psychological resistance at $100,000 remains formidable, but the unyielding appetite from US investors points to continued strength in the days ahead. With such solid fundamentals, many analysts believe Bitcoin is poised for another explosive rally once the $100,000 barrier is decisively cleared. BTC Rally Is Only Starting Bitcoin is trading at $98,800 after a failed breakout above the highly anticipated $100,000 mark. Despite this temporary setback, price action remains firmly bullish as BTC continues to hold above key demand levels, showing resilience and strength in the current market. The failure to retrace to lower prices indicates that bullish momentum is still intact, keeping investors optimistic about a potential breakthrough. If BTC maintains its position above the critical $95,000 support level, the likelihood of a surge past the $100,000 psychological barrier increases significantly. Holding above this level would signal strong buyer interest and the potential for further upside, paving the way for Bitcoin to resume its upward trajectory in the near term. Related Reading: Ethereum Consolidation Continues – Charts Signal Potential Breakout However, if Bitcoin fails to hold above $95,000, a retrace to lower demand zones would confirm a short-term correction. Such a pullback could provide the necessary fuel for the next rally, as it would allow the market to consolidate before making another attempt at breaking the $100,000 mark. For now, all eyes remain on Bitcoin’s ability to defend its key support levels as the market anticipates the next major move in this historic rally. Featured image from Dall-E, chart from TradingView
Bitcoin has broken all-time highs for the fourth consecutive day, surging to an impressive $99,500. This historic price action follows a wave of bullish momentum that began after President-elect Donald Trump’s victory in the US elections on November 5, further energizing both investors and analysts. Related Reading: Ethereum Holders Endure Unrealized Losses – Is ETH […]
Bitcoin has reached new all-time highs for four consecutive days, hitting $99,500 just hours ago. The relentless surge has fueled extreme bullish sentiment in the market, with investors eagerly anticipating Bitcoin’s historic breakthrough of the $100,000 mark. However, on-chain data suggests that the rally may face challenges as signs of profit-taking emerge. Related Reading: Ethereum Consolidation Continues – Charts Signal Potential Breakout Key insights from CryptoQuant reveal that Long-Term Holders (LTHs) are actively spending their Bitcoin, capitalizing on profits exceeding 350%. This behavior indicates that some seasoned investors are beginning to lock in gains after the aggressive uptrend. Whale activity and profit-taking by LTHs could temporarily slow the rally, potentially triggering a consolidation phase before the next leg up. While Bitcoin remains shy of the six-figure milestone, the market closely examines whether it can sustain its momentum or if a pullback is imminent. Consolidation at these levels could provide the foundation for BTC to reclaim its bullish trend and break through the psychological $100,000 barrier. Bitcoin Rally Seems Unstoppable Bitcoin has surged an impressive 45% since November 5, displaying relentless upward momentum that appears unstoppable. Despite increasing selling activity, demand continues to support the price, driving Bitcoin to new highs and maintaining its bullish trajectory. Market participants are now closely watching for potential signals of a slowdown or correction as BTC pushes deeper into uncharted territory. CryptoQuant analyst Axel Adler recently shared X data highlighting a significant trend among Long-Term Holders (LTHs). According to Adler, LTHs are actively spending their Bitcoin, capitalizing on profits exceeding 350%. This marks a critical juncture, as these holders are often regarded as market stabilizers, and their selling activity could indicate potential shifts in sentiment. Adler further notes that if Bitcoin’s price surpasses $119,000, LTH profits would soar to over 500%. Such extraordinary profit levels could trigger a wave of selling pressure, potentially leading to the first major correction after this unprecedented rally. However, he emphasizes that predicting an exact price point for a correction remains speculative, as no definitive threshold exists to determine when LTHs might overwhelmingly exit their positions. Related Reading: Polkadot Holds Key Demand Level – DOT Could Hit $11 In Coming Weeks While the rally shows no signs of slowing down, this dynamic between demand and LTH profit-taking underscores the importance of monitoring market behavior. Traders should remain cautious as Bitcoin’s rapid ascent unfolds. BTC About To Reach $100K Bitcoin trades at $98,600, less than 2% from the highly anticipated $100,000 mark. This psychological level is expected to be a significant supply zone, with many investors closely watching price movements around this milestone. Recent “only up” price action has left little room for traders to buy at lower levels, frustrating those who hoped to accumulate during dips. If Bitcoin holds above the crucial $93,500 support level in the coming days, market sentiment suggests a powerful surge above $100,000 could follow. Breaking this barrier would likely usher in further bullish momentum, pushing Bitcoin into uncharted territory and fueling optimism for additional gains. However, failure to maintain support at $93,500 could trigger selling pressure, leading to a price pullback. In such a scenario, Bitcoin might test lower demand zones, with $85,000 and $80,000 identified as key levels to watch. These zones could provide new accumulation opportunities for investors looking to capitalize on price corrections. Related Reading: Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed As Bitcoin approaches this historic level, the next few days will determine whether the market sustains its bullish trend or enters a consolidation phase. Traders and investors should remain vigilant as BTC navigates this critical juncture. Featured image from Dall-E, chart from TradingView
Ethereum (ETH) price is finally moving after a week of sideways movement. In the last hour, the second-largest crypto has seen a 5% surge to retest the key $3,200 level. Some market watchers believe ETH is about to move toward Q1 highs and kickstart the altseason. Related Reading: Crypto Community’s Revenge: Solana Memecoin Rug-Pulled By Gen Z Trader Hits $80 Million Market Cap Ethereum Retests Key Support Level Ethereum has been heavily criticized for its performance against Bitcoin (BTC), with investors worrying that ETH might not run to new highs this cycle. ETH’s price action has moved sideways while the flagship crypto continues its price discovery mode. On Thursday morning, BTC neared the $100,000 mark after hitting its latest all-time high (ATH) above $98,000, while ETH continued hovering in the mid-zone of its $3,000-$3,200 one-week price range. However, Ethereum has seen a remarkable 5% pump to trade above the $3,200 mark for the past hour. The second-largest crypto rose above $3,200 a week ago for the first time in over three months, hitting the $3,400 mark before retracing 5%. Over the past week, ETH attempted to reclaim the $3,200 resistance as support but failed twice to achieve it. Today, the cryptocurrency’s jump has propelled its price past the key resistance toward the mid-range of the $3,300 zone, reigniting a bullish sentiment toward Ethereum. Analyst Crypto Yapper asserted that the $3,200 is “the next big breakout” for Ethereum, as it has been a major rejection point for the last week. The analyst highlighted that after ETH’s consolidation, the next move was a retest of this level, which could see the crypto breakout toward the $3,500 mark if successfully reclaimed. However, failing to turn this resistance into support could likely see ETH’s price lose the $3,000-$3,100 support and move toward the $2,600 level, a major resistance before this month’s breakout, before attempting to reach $3,500. ETH’s Breakout To Kickstart The Altseason Crypto analyst Rekt Capital noted that ETH is breaking out of a short-term bull flag today. Per the post, the King of altcoins broke out of a three-week bull flag formation after surpassing $3,200. A confirmation of the breakout “would see ETH revisit the $3,700 above,” forecasted the analyst. Similarly, crypto analyst Zayk pointed out that the cryptocurrency displayed a two-week bullish pennant formation in the 4H timeframe. A successful breakout from the bullish pattern above the $3,200 mark could target a 15% rally to $3,700. Related Reading: Aptos Following SUI’s Lead? Analyst Says APT’s ‘Explosive Breakout’ Targets $20 Crypto trader Daan stated that investors should wait to see if Ethereum’s current momentum sustains. However, he considers that the next impulse for ETH/BTC is “likely to have some legs and go for some proper relief.” This run could see the ETH/BTC trading pair move back toward the 0.04 mark, which it traded at two weeks ago. This move would display a 20% surge from the current levels, which “should absolutely send the overall altcoin market and bring BTC Dominance down a decent amount.” As of this writing, the ETH’s price holds above $3,350, trading 2% below last week’s high. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin has reached a new all-time high, tagging $97,900 just hours ago, as the market sentiment remains extremely bullish. This explosive rally has investors questioning how long this uptrend can be sustained and what lies ahead for the market leader. Bitcoin’s recent performance has drawn comparisons to its historic 2020 bull run, sparking excitement among […]
Bitcoin has shattered records again, reaching a new all-time high of $97,903 just hours ago. The cryptocurrency market is exciting as Bitcoin leads the charge, delivering explosive gains that have fueled widespread bullish sentiment. Investors and traders alike speculate this rally is far from over, with Bitcoin edging closer to the monumental $100,000 mark. Related Reading: Ethereum Consolidation Continues – Charts Signal Potential Breakout Key data from Coinglass reveals another significant milestone: Bitcoin’s Open Interest has reached an all-time high. This surge in Open Interest indicates a flood of capital entering the market, signaling heightened activity and confidence among traders. Such metrics further confirm the euphoric state of the market, where optimism reigns supreme and momentum continues to build. With Bitcoin’s price rallying at an unprecedented pace and market indicators hitting record levels, the stage is set for what many believe to be an almost inevitable breakout above the psychological $100,000 level. The market’s focus is whether BTC can sustain its trajectory or if a temporary pullback will precede the next leg up. Either way, the spotlight remains firmly on Bitcoin as it cements its status as the leading force in this explosive bull run. Bitcoin Greed Enters The Market Greed has gripped the Bitcoin market, with the average Fear and Greed Index hitting 76%, signaling heightened optimism among investors. This elevated level of greed suggests that market participants are buying aggressively, anticipating that Bitcoin’s price will continue its upward trajectory without significant setbacks. Such sentiment often leads to increased speculative behavior as traders look to capitalize on the ongoing rally. Critical data from Coinglass supports this narrative, revealing that Bitcoin Open Interest—representing the total value of outstanding derivative contracts—has reached an all-time high of $62.69 billion. This unprecedented figure highlights the speculative nature of the current market, as traders use leveraged instruments like futures to amplify their potential gains. While this fuels bullish momentum, it also adds volatility, making the market susceptible to sharp moves in either direction. Interestingly, Bitcoin’s optimistic environment starkly contrasts the broader crypto market, where altcoins continue to struggle to reclaim yearly highs. While BTC leads the charge with record-breaking performance, altcoins have yet to catch up, underscoring Bitcoin’s dominance during this market cycle phase. Related Reading: Solana Analyst Expects A Retrace Before It Breaks ATH – Targets Revealed As speculative activity and investor optimism drive Bitcoin’s price action, the market waits to see if the rally has more fuel or if a correction looms. For now, Bitcoin remains the focal point of this euphoric bull run. BTC Enters Price Discovery Again Bitcoin is trading at $97,500 after setting a fresh all-time high, continuing its explosive rally. The market leader has entered price discovery—a phase often characterized by parabolic trends like the one currently driving BTC higher. Investor anticipation is growing, with the $100,000 mark only 2.5% away. This psychological milestone could act as significant resistance, potentially holding Bitcoin down for an extended period. A consolidation phase around this level would benefit the broader market, allowing altcoins to catch up and the rally to maintain stability. However, price discovery can be unpredictable. If Bitcoin fails to reach the $100,000 mark in the coming days, the market could see a pullback as bullish momentum cools. A retrace to lower demand zones, such as the $88,500 level, would provide the market with a necessary reset before the next leg upward. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target Despite the possibility of a short-term correction, Bitcoin’s price action remains strong. Its dominance over the crypto market and the current euphoric sentiment suggest bulls are still firmly in control. As traders and investors closely monitor price movements, Bitcoin’s ability to push through key psychological levels will determine the next phase of this historic rally. Featured image from Dall-E, chart from TradingView
Data shows the hype around Bitcoin has stayed low on social media recently despite the asset’s latest record. Here’s what this could mean for BTC. Bitcoin Sentiment On Social Media Is Still Just Mildly Positive In a new post on X, the analytics firm Santiment has discussed about the recent trend in the Positive Sentiment […]
Bitcoin (BTC) has held steady above the $88,000 mark over the past few days, showcasing resilience as the broader market anticipates its next move. Price action remains robust, leaving investors waiting for lower prices frustrated, as BTC shows no signs of providing an easy entry point anytime soon. Related Reading: Dogecoin Breaking Out Of Falling Wedge Pattern – Analyst Reveals Target Key data from CryptoQuant reveals that long-term holders (LTHs) are currently in an active distribution phase, signaling increased selling activity from this group. Despite this, the market has absorbed the additional supply without significant price impact, highlighting the strong demand supporting BTC at these levels. As Bitcoin consolidates just below its all-time highs, traders and analysts are closely watching whether the current momentum will lead to a breakout or if a retracement is on the horizon. The balance between rising demand and LTH distribution will likely determine BTC’s near-term trajectory. Can Bitcoin Set New ATH This Week? Bitcoin is on the brink of breaking its all-time high (ATH) again this week, sitting just 2% below the $93,483 level set last Wednesday. Excitement is building as analysts and investors closely watch BTC’s price action, anticipating whether it will surge past this critical level or enter a prolonged consolidation phase. While the bullish momentum remains strong, the possibility of a sideways movement could keep the price range-bound for an extended period before the next significant move. Data from CryptoQuant analyst Axel Adler highlights that long-term holders (LTHs) are currently in an active distribution phase. Despite this, the increased supply has not significantly impacted Bitcoin’s price, thanks to strong demand that continues to absorb selling pressure. This dynamic reflects the robust market interest that is supporting BTC near its record highs. Adler’s analysis also points to the LTH Spending Binary Indicator, which signals peak spending activity among LTHs. At the same time, the growing LTH supply suggests that a portion of long-term holders remain confident in BTC’s future price potential. These factors create a unique environment where high demand offsets distribution, keeping the bullish momentum intact. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation As Bitcoin flirts with its ATH, market participants await confirmation of whether the price will push into uncharted territory or pause for consolidation. The outcome will likely set the tone for BTC’s trajectory in the coming weeks, with investors betting on the continued upside in this resilient rally. BTC Price Action: Key Levels To Hold Bitcoin is trading at $91,820, following several days of sideways consolidation just below its all-time high (ATH). Despite the pause, BTC has maintained its position above the $87,000 support level since the last breakout, signaling its importance as a crucial line for bulls to defend. Holding this level is vital for sustaining upward momentum and setting the stage for Bitcoin to push into uncharted territory. However, a drop below $87,000 could shift market sentiment, likely triggering a correction as BTC searches for fresh demand. The next logical support zone lies around the $80,000 mark, with the potential for a deeper pullback if selling pressure intensifies. Such a retrace would provide an opportunity for sidelined buyers but could temporarily stall BTC’s rally. Bitcoin’s price action remains robust, bolstered by demand that continues to outpace supply. This strong market interest has mitigated the impact of profit-taking and selling activity, keeping the broader uptrend intact. Related Reading: Solana Breaks Above Key Resistance At $225 – ATH Next? As BTC consolidates near its ATH, traders closely watch key levels to determine whether the next move will be a breakout to new highs or a dip to test lower support zones. Either outcome will likely shape Bitcoin’s trajectory in the coming weeks. Featured image from Dall-E, chart from TradingView
Bitcoin (BTC) started the week by breaking out of a bullish pattern after moving sideways for most of the weekend. The flagship cryptocurrency just started its “parabolic phase,” sitting 3.4% below its all-time high (ATH), which could bring “massive moves” for BTC this week. Related Reading: Shiba Inu (SHIB) Ready To Roar! Analyst Calls For A 200% Spike Bitcoin ‘Parabolic Phase’ Just Started Bitcoin has seen a massive surge in the last two weeks, jumping 32% to the $89,000-$90,000 price range. BTC’s remarkable performance saw it soar 11% last Monday, preparing the ground for its eventual surge toward its latest ATH of $93,400 two days later. Since then, Bitcoin’s price has hovered between the $89,000-$92,000 range, briefly falling to $87,000 last Friday. Over the weekend, the flagship crypto continued to move within this rage, registering its largest weekly close in Bitcoin history. Crypto analyst Rekt Capital pointed out that BTC is barely starting its “parabolic phase,” noting that week three of the cycle’s “first price discovery uptrend” started today. The analyst explained that, historically, BTC has seen around 300 days of parabolic run each cycle, with the first major pullback coming over a month after entering price discovery mode. Per the post, it took six weeks before the flagship crypto’s first major pullback in 2013. In 2017, BTC rallied for eight weeks before registering a deeper pullback. Meanwhile, it soared for four weeks before experiencing a major retrace in the 2020-2021 cycle. Based on this, the analyst considers that “history suggests there’s more upside to come and that the first Price Discovery Correction is still weeks away.” Is A Move Massive Move Coming This Week? Ali Martinez noted that Bitcoin seems to be repeating 2020’s pattern. In 2020, after breaking its previous ATH of $19,700, BTC rose 26% and consolidated for a week. Following its consolidation, BTC jumped 66% toward $40,000 in the next two weeks. Martinez pointed out that Bitcoin has risen 28% since surpassing its March ATH and has been consolidating for nearly a week. This suggests that the cryptocurrency’s price could be getting ready for a substantial surge in the following days, potentially hitting the $100,000 mark this week. Crypto Yapper, another market watcher, stated that Bitcoin will likely make a “massive move” soon. The analyst highlighted the flagship crypto’s consolidation, noting the significant price action around the $89,000-$90,000 mark. Related Reading: Bitcoin Bulls Aren’t Backing Down: Rally Continues? This horizontal level acted as a key resistance zone earlier last week but has been confirmed as support throughout the past five days. As Bitcoin retested the $91,000 earlier today, the analyst also pointed out its price could continue the bullish trajectory and aim for a new ATH around $95,000. Additionally, BTC started the week breaking out of a one-week symmetrical triangle pattern. To Crypto Yapper, this is a “typical continuation pattern” for the cryptocurrency, which suggests that Bitcoin is set to continue its climb if the breakout is confirmed throughout the day. The analyst stated that BTC’s continuation of its uptrend could hit $100,000 by Sunday. As of this writing, Bitcoin is trading at $90,260, a 10% increase in the weekly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
Bitcoin has entered a brief consolidation phase after reaching new all-time highs last week, following an aggressive price surge that captured the market’s attention. The rally came on the heels of two significant events: former president Donald Trump’s victory in the U.S. election and the Federal Reserve’s decision to cut interest rates. These developments fueled […]
Bitcoin spent the weekend trading within a relatively narrow range of $91,700 to $88,700, demonstrating robust price action. Despite the lack of significant price movement, the consistent ability to hold within this range underscores Bitcoin’s current strength and growing market confidence. Key data from CryptoQuant adds further optimism, revealing a notable reduction in selling pressure. The data indicates fewer sellers in the market, aligning with the broader bullish sentiment that has fueled Bitcoin’s recent momentum. With the supply side constrained, demand could propel BTC higher, reinforcing the strong price action seen over the weekend. Related Reading: Solana Breaks Above Key Resistance At $225 – ATH Next? This optimistic backdrop has sparked predictions of aggressive surges in the coming months as Bitcoin remains well-positioned to capitalize on favorable market dynamics. Analysts suggest that with selling pressure limited and demand continuing to grow, Bitcoin could be gearing up for its next significant breakout. Investors are watching closely to see if this strength will lead to a new phase of upward momentum, potentially pushing BTC into uncharted territory as the market anticipates the next major move in this bullish cycle. Bitcoin Flow To Exchanges Supports Bulls Bitcoin has had an exhilarating few weeks, surging 39% in just nine days and marking one of its most aggressive upward moves this cycle. The recent rally has left analysts and investors both excited and cautious as Bitcoin continues to show resilience above key levels. While many expect BTC to maintain its bullish trajectory, opportunities to buy at lower prices are becoming increasingly scarce. Data from CryptoQuant analyst Axel Adler adds valuable insight into the current market dynamics. Adler notes that the average flow of Bitcoin to exchanges over the past 30 days has not surpassed the average volume over the last 365 days. This indicates a lack of significant selling pressure, suggesting that current holders are more inclined to retain their Bitcoin than sell into the rally. With fewer sellers in the market, Bitcoin’s price has the potential to climb further as demand increases. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation However, analysts agree that consolidation around the current price range would be a healthy step before the next leg up. Consolidation could allow the market to stabilize, attract fresh demand, and establish stronger support levels for the next growth phase. BTC Less Than 2% Away From ATH Bitcoin is trading at $91,700, just under 2% away from its all-time high (ATH) of $93,483. This proximity to record-breaking levels has fueled optimism among investors, with the price appearing poised to push above the ATH again this week. Bitcoin’s price action remains robust, supported by increasing demand and bullish sentiment in the market. The sustained strength of BTC’s price has been attributed to its ability to maintain key levels during periods of consolidation. This resilience indicates buyers continue to dominate, reinforcing the possibility of another breakout above the $93,483 mark. Analysts expect breaching this level would likely spark another wave of aggressive buying, potentially driving Bitcoin further into uncharted territory. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target However, caution remains warranted. A breakdown below $87,000 would signal a retrace for Bitcoin, potentially initiating a short-term correction in the coming days. Such a move could provide a healthier foundation for the next growth phase, allowing BTC to consolidate and attract fresh demand. Featured image from Dall-E, chart from TradingView
Bitcoin has maintained its bullish momentum over the weekend, solidifying its position above the $90,000 mark. This milestone showcases Bitcoin’s resilience as it continues to captivate investors with its upward trajectory. The market has been buzzing with optimism as Bitcoin inches closer to new highs. However, recent on-chain data suggests that a potential pullback could be on the horizon. Related Reading: Last Chance To Buy Ethereum? Analyst Expects $6,000 Once It Breaks 8-Month Accumulation Key data from CryptoQuant reveals that Bitcoin miners have sold over 3,000 BTC in the past 48 hours. This wave of miner profit-taking often signals a cooling phase, as it introduces additional supply into the market. While the selling activity is not uncommon during periods of strong price action, it could lead to a short-term consolidation phase below the all-time high of $93,400 set earlier this week. Despite this, Bitcoin’s ability to hold above $90,000 highlights strong underlying demand and robust market sentiment. Investors and analysts are closely watching the coming days to see if Bitcoin can absorb this selling pressure and maintain its bullish trajectory. Bitcoin Looks Very Strong Bitcoin’s price action has remained robust, breaking all-time highs multiple times over the past 11 days and reaffirming its bullish momentum. However, after such an aggressive upward movement, the market appears to be entering a period of consolidation as some investors and entities lock in profits. Crypto analyst Ali Martinez shared key data on X that highlights that Bitcoin miners have sold over 3,000 BTC in the past 48 hours, valued at approximately $273 million. This selling activity suggests that miners, typically long-term holders, are taking profits amid the recent surge. Such moves are common during strong bull runs and can indicate that market participants anticipate a short-term price plateau or retrace. While miner selling is a natural part of market dynamics, sustained activity of this kind could signal a shift in sentiment. If selling pressure persists, it might push Bitcoin toward lower demand zones, providing potential re-entry opportunities for sidelined investors. Related Reading: Solana About To Target $250 If It Breaks Key Supply Level – Analyst Currently, Bitcoin’s ability to absorb this selling pressure will determine whether the current bullish trend remains intact. A brief consolidation phase may be beneficial, allowing the market to establish a stronger foundation for the next leg up. For now, investors are closely watching key levels to gauge the potential for continued growth or a deeper correction. BTC Holds Steady Above $90,000 Bitcoin is currently trading at $90,600 after a volatile few days that saw its price range between its all-time high of $93,483 and a local low of $86,600. This consolidation comes after aggressive bullish momentum that set new records, leaving investors and analysts watching the next moves closely. Despite the recent cooling off, Bitcoin’s price action remains strong, supported by increasing demand and overall bullish sentiment. If Bitcoin can hold above the $86,000 level over the next few days, a renewed surge to challenge and potentially surpass its all-time high seems plausible. The market has shown resilience, with fresh demand continuing to emerge even as minor profit-taking occurs. Related Reading: XRP Breaks Above Multi-Year Resistance – Top Analyst Shares Price Target However, there is a risk of a deeper retracement. Should Bitcoin lose support at $86,000, it would likely test lower demand levels, searching for a strong base to fuel its next upward move. Key support zones could provide the foundation for renewed buying interest and set the stage for the next bullish phase. Featured image from Dall-E, chart from TradingView
Bitcoin has entered price discovery after repeatedly breaking all-time highs over the past week. The price surged an impressive 38% in under ten days, highlighting the overwhelming bullish momentum that has captivated the market. BTC is consolidating below the $93,400 mark as traders and investors anticipate its next move. Key data from CryptoQuant reveals an […]