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According to a recent post of cryptocurrency Quicktake, Bitcoin (BTC) could prepare for its next major movement. The Crypto Dan contributor underlined that BTC is currently forming a model of accumulation similar to those observed in 2024 – models followed by significant gatherings.
Bitcoin showing signs of big rally
Bitcoin jumped more than 13% last week, reporting a renewal of optimism on the digital asset market. This momentum arrives in the middle softening Global tensions linked to prices, which had previously created opposite winds for risky assets.
In addition to the rise of Bitcoin, the total market capitalization of cryptocurrencies increased considerably – from around 2.5 billions of dollars on April 8 to more than $ 3.1 billions of dollars at the time of the editorial staff.
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Adding to positive feeling is the evolutionary technical structure of BTC. In a recent analysis, the cryptocurrency contributor described how BTC forms an accumulation model that preceded the main price rallies in 2024.
The contributor shared the following table, declaring that the current BTC movement seems to reflect that in January and October 2024. In both cases, BTC has entered a significant rise trend which was fueled by a strong increase in the activity of short -term holders.
By “short -term holders”, the analyst refers to investors who generally hold BTC for a day for a week. In previous cycles, a sudden increase in the activity of this group was followed by strong gatherings – not only in BTC, but also through the main altcoins. The analyst explained:
In particular, this indicator has historically evolved before the main price increases, making it a reliable signal of accumulation. If this trend continues in the short term, Bitcoin can be on the right track to exceed $ 100,000 and enter a strong ascending phase.
Meanwhile, eminent crypto analyst Ali Martinez identified $ 97,530 as the next major level of resistance. Martinez underlined that the exceeding of this price could open the way to Bitcoin to reach new heights of all time (ATH).
Despite the momentum, concerns persist
Despite growing optimism, not all indicators support an immediate escape. Some analysts warn that Bitcoin still faces obstacles. In particular, the momentum of the 30 -day request remains in negative territory – suggesting This recent bullish feeling may not yet be fully durable.
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In addition, chain parameters reveal that a truly parabolic decision could take longer. Cryptoque contributor Carmelo Aleman observed That even if the BTC reserves on exchanges continue to drop, indicating the confidence of long-term holders, there may not yet be enough pressure to trigger a complete supply shock.
That said, a positive signal is a recent sharp bounce In the apparent demand for Bitcoin, which could indicate the first stages of a trend reversal. At the time of the press, Bitcoin is negotiated at $ 96,370, up 1.9% in the last 24 hours.
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