Bitcoin Consolidates, Possible 15% Surge Ahead
Key Takeaways
Bitcoin is currently in a sideways phase, with minimal price movements. However, analysts see signs of an upcoming upward movement. Long-term investors are holding their assets, indicating a possible accumulation phase. If the current trend continues, Bitcoin could experience a significant price increase in the coming days.
Bitcoin in an Accumulation Phase?
The Bitcoin price is showing little movement at the moment. Over the weekend, the price dropped by 0.29%, while the change over the past seven days was only 0.03%. This low volatility suggests that the market is in a consolidation phase.
According to data from CryptoQuant, the “Binary Coin Days Destroyed” (Binary CDD) indicator shows that long-term investors are not selling their holdings. This indicator is currently at 0, meaning that hardly any sales are occurring from long-term holders. Such restraint often signals an upcoming market movement, as investors wait for more favorable conditions.
Could Bitcoin Soon Reach $99,500?
Currently, Bitcoin is moving within an ascending channel. The price is near the lower support line, which has often served as a starting point for price increases in the past. If this support holds, Bitcoin could rise by up to 15% and reach the $99,500 mark.
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For this increase to occur, Bitcoin must break through the upper resistance line of the channel. If successful, the upward trend could continue. Otherwise, Bitcoin will remain trapped in the current consolidation zone.
Our Assessment
The current market situation suggests a potential major movement. The low selling activity of long-term investors supports the idea of an accumulation phase. If Bitcoin breaks through the resistance level, a significant price increase could follow. Investors should closely monitor market movements and watch for technical signals.
| Symbol | BTC |
| Coin type | Alt Coin |
| Transaction Speed | Slow |
| Pros |
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| Cons |
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| Further practical applications | |
| Price | $81,675.00 |
| 24h % | -5.24 % |
| 7d % | -13.11 % |
| 30d % | -14.96 % |
| 60d % | -13.55 % |
| 1y % | 19.15 % |
| Market Cap | $1,621,009,922,776.00 |
| Max. Supply | 21,000,000.00 |
| Official Links | Website | Whitepaper | Source Code |
| Socials | Reddit | X | Message Board |
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